It marks the second monthly decline after Ginnie MBS issuance hit $41 billion in June. And it appears to show that the slowdown in originations has finally caught up with Ginnie Mae issuers.
GNMA reported Monday morning that forward single-family MBS issuance totaled $33.6 billion in August, compared to $36.2 billion in July.
Multifamily issuance totaled $1.9 billion in August, down slightly from $2.2 billion in the prior month.
Reverse mortgage lenders issued $744 million in HECM MBS after issuing $796 million in HMBS in July.
Ginnie Mae issuers securitized $122 billion in FHA, VA and Rural Housing government-backed loans in the recent quarter ending June 30—the highest quarterly issuance in four years.