Residential lenders issued $28.4 billion of Government National Mortgage Association-backed MBS in November, a 7% gain from the previous month, according to new figures issued by the agency.
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Refinancings pushed November MBS issuance to the highest level since February 2011 when mortgage bankers sold $35.2 billion of product into securities.
Since February Ginnie MBS monthly issuance has ranged between $24 billion and $28 billion.
Ginnie Mae guaranteed MBS are backed by Federal Housing Administration, Department of Veterans Affairs, and Rural Housing Services loans.
