Ginnie Mae MBS issuance fell 7% from December to $38.3 billion in January, according to new figures released by the Government National Mortgage Association.
The GNMA report shows issuers securitized $35.1 billion in single-family loans in Ginnie Mae II pools and $3.8 billion in Ginnie I pools in January.
In December, issuers securitized $37.3 billion in single-family loans via Ginnie I and Ginnie II pools.
Securitizations of jumbo mortgages (with balances above $417,000) totaled $932 million in January—the highest since June when $1 billion in government-guaranteed jumbos were pooled and sold as Ginnie Mae MBS.
Reverse mortgage lenders securitized $738 million in FHA-insured home equity conversion mortgages in January, up from $645 million in the month prior.
January issuance of multifamily MBS was $2.4 billion, compared to $3.5 billion in December.
Overall, Ginnie Mae MBS issuance is up 27% from January 2012.