The Government National Mortgage Association (GNMA) approved 35 issuer licenses last year and hopes to approve about the same this year, according to agency president Ted Tozer.

Of the 35 that were approved, 22 residential lenders actually issued mortgage-backed securities guaranteed by the agency.

In an interview with National Mortgage News, Tozer said the agency has three full-timers working on license approvals and hopes to double that number to six shortly.

In 2011, roughly 85 applications were filed with Ginnie with several firms deciding at some point to withdraw from the process, Tozer said

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.