Agency issuances of pass-through mortgage-backed securities totaled $132.5 billion in the first quarter, up 68% from the same period a year ago, according to The Bond Market Association.Fannie Mae led the pack in total MBS issuances, but Freddie Mac posted the largest percentage gain from a year ago. Fannie Mae issued $58.3 billion in MBS pass-throughs, nearly double the $30.9 billion issued in the first quarter of 1997. Freddie Mac issued $44.3 billion in MBS pass-throughs in the first quarter, a jump of 68.7% from $26.3 billion a year ago. Ginnie Mae's MBS issuances rose 37.9% to $30 billion, up from $21.7 billion a year ago. The quarterly report was based on data from Securities Data Co., the group said.
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