A Good Year for the Agencies

The Federal Housing Administration, Department of Veterans Affairs mortgage guarantee program, and the Government National Mortgage Association all racked up impressive numbers for the fiscal year that just ended September 30, attendees at the Mortgage Bankers Association annual convention in Chicago heard.William Apgar, President Clinton's nominee to be FHA commissioner, said the agency had made 1.1 million endorsements in its single-family program, up significantly from the year before. Mr. Apgar didn't have numbers for multi-family volume. R. Keith Pedigo, director of the DVA Loan Guaranty Service, said Veterans Affairs guaranteed 350,000 loans for a volume of $39 billion, 90,000 loans more than the year before. And George Anderson, evp of Ginnie Mae, said it had originated $138 billion in mortgage-backed securities, its second-best year ever.