Ginnie Reaches $2T Milestone

Ginnie Mae's mortgage-backed securities program has hit the $2 trillion threshold, according to the Department of Housing and Urban Development.That means that more than 27 million families have accessed lower-cost mortgage financing since Ginnie Mae was launched in 1968, said Ginnie Mae president Ronald Rosenfeld. GMAC Commercial Mortgage originated the milestone security that pushed Ginnie Mae past the $2 trillion mark. The government-owned corporation can be found online at http://www.ginniemae.gov.

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