Ginnie MBS Issuance Falls Slightly, but Jumbo MBS Volume Rises
Mortgage bankers issued almost $37 billion of Government National Mortgage Association MBS in October, a 6% decline from the month prior, according to new figures released by the agency.
In September and August, Ginnie Mae MBS issuance topped $39 billion.
The new report shows that issuers securitized $30.6 billion of single-family mortgages in Ginnie Mae II pools and $4.2 billion of Ginnie I pools in October.
But securitizations of jumbo mortgages (with balances above $417,000) totaled $785 million, a 2% gain from September.
Reverse mortgage lenders securitized $707 million of FHA-insured home equity conversion mortgages in October.
Multifamily issuance in October came to $2 billion, compared to $1.8 billion in September.
Overall, Ginnie Mae issuance in October is up 28% from a year ago.