Mortgage lenders issued $24.1 billion of Government National Mortgage Association-backed MBS in March, an 8% decline from February, and a sign of slowing volume in the FHA/VA market.
In the first quarter, mortgage firms issued $86.6 billion of Ginnie Mae securities, compared to $90.2 billion in the same period in 2010.
On Tuesday the agency reported that issuance of Ginnie Mae II single-family pools totaled $15.84 billion in March while issuance of Ginnie Mae I single-family pools topped $6 billion.
Ginnie Mae issuers also securitized $940 million of HECM reverse mortgages and $1.32 billion of multifamily loans.
These government guaranteed MBS are backed by Federal Housing Administration, Department of Veterans Affairs, and Rural Housing Services loans.
