Japanese housing finance officials have entered into memorandum of understanding with Ginnie Mae so they can learn how to create a similar secondary market agency in their country.
“This is a significant development for Ginnie Mae,” said Ginnie Mae president Ted Tozer. “We appreciate that the Japan Housing Finance Agency recognizes how strong our model is and they want to learn from it and emulate it.”
The Japanese are an important investor in Ginnie Mae MBS. And Tozer expects the memorandum of understanding will contribute to stability in global financial markets.
“The Japan Housing Finance Agency will greatly benefit from this important alliance by tapping into Ginnie Mae's knowledge of cutting edge securitization methods,” said JHPA president Shinya Shishido.