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DEC 9, 2013 6:06pm ET

Ginnie Mae Reports Continuing Decline in MBS Issuance

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Ginnie Mae MBS issuance fell in November for the fifth straight month to the lowest level since June 2011. The secondary market agency reported that Ginnie issuers securitized $26 billion in mortgages, down from $28 billion in the prior month.

Issuers sold $24 billion in single-family Ginnie II MBS to investors that included $878 million in FHA-insured reverse mortgages.

Ginnie I single-issuers securitized $515 million in single-family loans and $1.2 million in multifamily pools.

A separate report by HUD shows that FHA approved 84,000 single-family loans in October, which represents a recovery of sorts for FHA. In September, FHA endorsements dropped to 73,000 from 97,700 in August.

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