22. Department of the Treasury · Notable · Needs Congress
Right-size the missions of the FHA and Ginnie Mae
Printed page 706 22. Department of the Treasury
“The missions of the Federal Housing Administration and the Government National Mortgage Association (“Ginnie Mae“) must be right-sized to serve a defined mission.”
What has happened
- Not started
Congress moved the other way on the FHA and left Ginnie Mae alone. The 21st Century ROAD to Housing Act (Public Law 119-101) widened the Federal Housing Administration's remit rather than narrowing it: section 105 authorizes an FHA small-dollar mortgage pilot with direct payments to lenders and grants to borrowers for down payments, closing costs, appraisals and title insurance; section 302 creates a modular housing production program under the National Housing Act; section 303 reforms the property improvement and manufactured housing loan programs; sections 701 and 702 add annual testimony and monthly capital-ratio reporting on the mutual mortgage insurance fund. The Government National Mortgage Association is not mentioned anywhere in the Act, and no mission statement for either body was narrowed.
Research log
What was searched, and what didn’t count as evidence
Research notes
The April 2026 joint HUD-FHFA credit-score announcement changes the scores FHA and the Enterprises accept; it is a product decision, not a mission narrowing, and is not counted.
- Action
- restrict
- Object
- Federal Housing Administration and Ginnie Mae
- ID
- 1987