How is Ginnie Mae funded?
Ginnie Mae is a self-financed corporation that uses the fees it collects to fund its operations. Operations are financed by a variety of fees including Guarantee Fees, New Issuer Application Fees, Commitment Fees, Handling Fees, and Transfer of Service Fees. In addition, Ginnie Mae receives revenue from the interest earned on its capital reserves. For FY 2008, Ginnie Mae had revenue of more than $1 billion and expenses of only $59 million resulting in net revenue of $906 million and $13.5 billion in reserves.
Ginnie Mae is a self-financed corporation that uses the fees it collects to fund its operations. Operations are financed by a variety of fees including Guarantee Fees, New Issuer Application Fees, Commitment Fees, Handling Fees, and Transfer of Service Fees. In addition, Ginnie Mae receives revenue from the interest earned on its capital reserves. For FY 2009, Ginnie Mae had revenue of more than $509.6 million and expenses of only $69.1 million resulting in net revenue of $906 million and $13.5 billion in reserves.
