Ginnie Mae's New Chief on Resurgent Risk

For years the federal agency was an also-ran, dwarfed in volume and importance by Fannie Mae and Freddie Mac. But the subprime market's collapse has resulted in a government lending resurgence that has boosted Ginnie's profile. Issuance of mortgage-backed securities with Ginnie's stamp has nearly tripled in the year that ended in September, and the bonds now account for 30% of new offerings.