Ginnie MBS Issuance Picks Up in January
Ginnie Mae MBS issuance edged up 3% in January after trending downward over the previous six months, according to the secondary market agency.
Ginnie issuers securitized $22.9 billion in government-backed loans in January down from $38.3 billion a year ago.
The use of Ginnie I pools to securitize single-family loans remains weak. The new report shows that issuers securitized just $334 million in single-family loans via Ginnie I pools in January, compared $21.2 billion in Ginnie II pools.
Securitizations of FHA reverse mortgages have been fairly steady lately, totaling $711 million in January compared to $826 million in the prior month.
The latest Department of Housing and Urban Development data show originations of FHA purchase mortgage endorsements also has been fairly steady.
Lenders endorsed 73,200 FHA-insured single-family loans in December, including 49,000 purchase mortgages, according to HUD.
In November, they endorsed 61,400 FHA loans including 45,200 purchase mortgages. In October they endorsed 70,400 FHA loans, including 52,700 purchase mortgages.
Ginnie Mae MBS are backed by FHA, Department of Veterans Affairs and Rural Housing Services guaranteed mortgages