Ginnie Mae issuers securitized a near record $413 billion of government-guaranteed residential loans in fiscal year 2010, according to figures released Friday afternoon.
The agency's MBS volume fell just 1% from last year when a record $419 billion of GNMA MBS came to market. (The FY 2009 volume soared by 55% from the previous year.)
Ginnie Mae ended FY 2010 by guaranteeing $33.9 billion in mortgage-backed securities in September, down slightly from $34.3 billion in August.
Ginnie MBS issuance on a monthly basis ranged from $22.7 billion to $38.6 billion in FY 2010.
During FY 2009, issuance was more volatile due to a refinancing boom that sent monthly issuance as high as $46.2 billion. Ginnie Mae issuance exceeded $40 billion three months in a row. The monthly low for FY 2009 was $24 billion.
Ginnie Mae MBS are backed by Federal Housing Administration, Department of Veterans Affairs, and Rural Housing Services guaranteed mortgages.
