Ginnie Mae, Stalwart of Mortgage Market, Squeezed by DOGE (2)

Ginnie Mae, a $2.7 trillion stalwart of the US home mortgage market, is the latest Washington agency targeted by Elon Musk.

Over the past week, as much as a quarter of the agency’s 270-or-so employees have either resigned or been dismissed, according to people familiar with the matter. The departures have raised concern that Ginnie Mae — a relatively small agency that turns a profit – might have trouble doing its job, particularly if the financial markets or the US housing market take a turn for the worse.

Wall Street is trying to push back. Bankers and developers are ...