Mortgage bankers issued $28 billion of Government National Mortgage Association MBS in February, down 7% from the prior month, according to new figures released Thursday.
The new report shows that GNMA-approved issuers securitized $26 billion in single-family loans, and $1.3 billion in multifamily loans in February. In addition, they securitized $718 million of FHA-insured reverse mortgages, up from $654 million in January.
The single-family pools included $426 million of FHA-insured jumbo mortgages, compared to $483 million the month prior.
FHA-insured jumbo loans have loan balances above $625,500 and up to $729,750.
Ginnie Mae guaranteed MBS are backed by Federal Housing Administration, Department of Veterans Affairs, and Rural Housing Service loans.
