this United States Senate The Appropriations Committee this week approved full appropriations for the Fiscal Year 2025 Transportation, Housing, and Urban Development and Related Agencies Appropriations Act (T-HUD), which provides $98.737 billion in discretionary funding for agencies, including Ginnie Mae.
The committee voted 28-1 to approve the bill in its current form, which calls for $67 million for salaries and expenses related to the operations of state-owned companies.
“This bipartisan bill makes important new investments to help people keep a roof over their heads and get where they need to go safely — with new funding to hire more air traffic controllers and air and rail safety inspections Member, Increasing Our Housing Supply, Maintaining Rent Committee Chairwoman Patty Murray, D-Wash., said:
“This bill strengthens our efforts to address the housing crisis at the federal level, invests in improving transportation infrastructure in communities across the country, and will help our country move forward,” Murray added.
Shortly after the committee approved American Community Home Lender (CHLA) issued a statement house line Praise the move.
“CHLA is pleased to see the Senate increase funding for Ginnie Mae, which plays a critical role for independent mortgage banks, especially small issuers,” said CHLA Executive Director Scott Olson.
The bill will next go to the full Senate for a vote. If the bill passes the Senate, it will need to be approved by the Senate United States House of Representatives It is then sent to the president to be signed into law. A reconciliation process may be needed to bring the House and Senate versions into line.
CHLA and other trade groups, including Mortgage Bankers Association (Master of Business Administration), Housing Policy Committee (High performance computing), national association of realtors (nar), National Association of Home Builders (NAHB) and National Reverse Mortgage Association (NRMLA) previously submitted a letter to House and Senate leaders urging full funding for Ginnie Mae.
Providing the company with “the personnel the agency needs to fulfill its responsibilities” will allow it to “focus on its core mission, which includes marketing Ginnie Mae securities to global investors and serving the more than 300 FHA-backed issuers of Ginnie Mae securities. The company provides oversight, RHS and VA loans,” the letter explains.
The broad base of MBS issuers “is critical to maintaining a competitive mortgage market and keeping mortgage costs as low as possible,” the letter said. “As long-term mortgage rates continue to rise, housing affordability becomes tight, which means providing continued liquidity for low-down payment FHA, RHS and VA loans and maintaining the competition created by a broad issuer base is critical. important.
