Ginnie Mae has announced that in December it will begin disclosing more comprehensive information about its securities.The agency said it will report the number and the unpaid principal balance of loans that are paid off in full, repurchased by issuers due to delinquency, or liquidated from the pool due to foreclosure. Ginnie Mae will also disclose information regarding loans that are 30, 60, or 90 or more days delinquent and include the number and unpaid principal balance of interest rate buydown loans backing its mortgage-backed securities. Ginnie Mae noted that since February 2004 it has moved from quarterly to monthly disclosures and has begun reporting the loan-to-value ratio, purpose, property type, original loan amount, and year of origination for loans backing its securities. "Our investors have been asking for more details," said Steve Ledbetter, Ginnie Mae's director of securities, policy, and research, who is leading the disclosure initiative. "We believe these enhancements will greatly increase understanding of our securities and lead to better pricing in the secondary market." Ginnie Mae can be found online at http://www.ginniemae.gov.
