Ginnie Mae Platinum Securities
Ginnie Mae Platinum Securities and REMIC Securities are issued under the Ginnie Mae Multiclass Securities Program, which provides an important adjunct to Ginnie Mae's mortgage-backed securities Program. A Ginnie Mae Platinum security is formed by combining Ginnie Mae MBS pools that have uniform coupons and original terms to maturity into a single certificate.
The Ginnie Mae Multiclass Securities Program increases liquidity in the secondary mortgage market and attracts new sources of capital for federally insured or guaranteed residential loans. Backed by the full faith and credit of the United States government, Ginnie Mae guarantees the timely payment of principal and interest on Ginnie Mae Platinum and REMIC Securities.
Ginnie Mae's presence in the market benefits investors by offering them government-guaranteed mortgage products structured to specific investment needs. It has increased efficiency in the market by attracting a broader range of investors, funneling capital into the nation's housing markets which in turn makes more lower-interest mortgage loans available.
The Ginnie Mae Platinum Securities program allows investors owning a number of MBS, each of which may have a relatively small remaining principal balance, to aggregate the MBS, thereby increasing their liquidity. Ginnie Mae Platinum pools can be used by investors as collateral for repurchase agreements as well as structured financings.
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