Ginnie Mae President Alanna McCargo said she’s hopeful the one-year extension of the implementation deadline for Ginnie’s new risk-based capital requirements will give its nonbank issuers room to breathe and time to consider their restructuring.

Ginnie Mae believes the year-plus implementation period should give potentially affected issuers enough time to plan and execute strategies for coming into compliance its new risk-based capital requirements.

Agency single-family MBS production continued to erode in the third quarter despite a modest pickup in purchase loans. Meanwhile, issuance fell sharply in the commercial MBS and ABS markets. (Includes three data charts.)

The government guarantor is considering making its pandemic-era pass-through assistance program credit facility for nonbanks permanent. And it comes at a pressing time.

The government agency is preparing for its first planned business outage as it moves its entire platform to the cloud.

Ginnie Mae could take additional actions on new eligibility requirements if problems emerge in the MSR market.

According to the Ginnie Mae president, the “majority” of the agency’s is-suers would already be in compliance with the new capital requirements. But at least one of its counterparties is considering exiting the Ginnie program.

Investors have been asking for more data on the social aspects of loans in Ginnie Mae pools, said agency President Alanna McCargo.

Ginnie Mae said it supports HUD’s efforts seeking legislation that would provide a permanent source of capital for housing finance agencies fostering affordable multifamily housing.

While credit unions will be treated on par with banks, state housing finance agencies will be fully exempted from capital requirements imposed on those participating in the Ginnie MBS program.