WASHINGTON - Dwight Robinson, the nominee for president of Ginnie Mae, says the agency will play a "proactive" role in the government's programs to boost affordable housing.
"A strong, confident Ginnie Mae working to leverage capital ... can be the engine behind new initiatives and ideas," Mr. Robinson said at his confirmation hearing last week before the Senate Banking Committee.
The agency, formally the Government National Mortgage Association, is "on target" with its effort to issue residential mortgage investment conduits or Remics, he said.
Came from Freddie Mac
The program, expected to begin in March 1994, will be run largely by financial advisers outside Ginnie Mae.
In a brief interview after the hearing, Mr. Robinson declined to say when that contract would be awarded.
He said he has not involved himself with the Remic program because of prior ties with the Federal Home Loan Mortgage Corp. He was an affordable-housing executive there until his nomination to Ginnie Mae.
Mr. Robinson was accompanied to the hearing by the deputy secretary of housing and urban development, Terry Du Vernay, who was his boss at the Michigan State Housing Development Authority and is believed to have been instrumental in Mr. Robinson's nomination.
