Ginnie MBS Issuance Up 20%, Highest in 3 Years
Government-approved lenders issued nearly $395 billion in Ginnie Mae MBS in calendar year 2012, up 20% from the prior year, according to new figures released by the Government National Mortgage Association.
That was a good year. But it didn’t top 2009, when GNMA guaranteed nearly $454 billion in MBS, including $130.6 billion in one quarter.
In 2012, Ginnie issuance peaked at $110.7 billion in the third quarter.
Outstanding Ginnie Mae MBS totaled $1.37 trillion at yearend, up 10% from 2011.
Ginnie Mae guarantees MBS backed by the Federal Housing Administration, Department of Veterans Affairs and Rural Housing Service loans.