To assist readers in understanding Ginnie Maes recent financial history, the following table
provides three year financial highlights of the corporation:
THREE-YEAR FINANCIAL HIGHLIGHTS
September 30,
2001
2000
1999
(Dollars in thousands)
Balance Sheets and Liquidity Analysis
Funds with U.S. Treasury
$
2,043,000
$
1,617,600
$
1,210,800
U.S. Government Securities
$
6,557,100
$
6,171,000
$
5,778,000
Total Assets
$
8,739,300
$
7,919,200
$
7,123,300
Total Liabilities
$
615,100
$
600,300
$
567,200
Investment of U.S. Government
$
8,124,200
$
7,318,900
$
6,556,100
Total RPB Outstanding (1)
$604,308,600
$603,471,487
$569,649,659
LLR (2) and Investment of
U.S. Government
$
8,659,700
$
7,852,200
$
7,059,400
Investment of U.S. Government as a
percentage of Average Total Assets
97.54%
97.00%
97.20%
LLR and Investment of U.S. Government
as a percentage of RPB
1.43%
1.30%
1.24%
Capital Adequacy Ratio (3)
1.41%
1.28%
1.22%
Statements of Revenues and Expenses
& Profitability Ratios
Year ended September 30,
MBS Program Income
$
438,700
$
408,200
$
405,000
Interest Income
$
430,300
$
415,800
$
380,300
Revenues
$
878,500
$
832,000
$
798,600
MBS Program Expenses
$
40,100
$
37,900
$
42,500
Administrative and Other Expenses
$
9,300
$
9,300
$
9,300
Provision for Loss
$
23,800
$
22,000
$
-
Total Expenses
$
49,400
$
47,200
$
51,800
Excess of Revenues over Expenses
$
805,300
$
762,800
$
746,800
Total Expense as a percentage of
Average RPB
0.0082%
0.0078%
0.0093%
Provision for Loss as a percentage of
Average RPB
0.0039%
0.0038%
-
(1) Remaining Principal Balance (RPB) of Ginnie Mae MBS
(2) Loan Loss Reserve (LLR)
(3) Investment of U.S. Government plus Loan Loss Reserve divided by the sum of Total Assets and
Remaining Principal Balance
18
G i n n i e M a e A n n u a l R e p o r t 2 0 0 1