Ginnie MBS Issuance Tops Fannie, Freddie

For the second consecutive month, mortgage-backed securities issuance by Ginnie Mae surpassed government-sponsored enterprises Fannie Mae and Freddie Mac, the Department of Housing and Urban Development said. The $27.1 billion issued in November brings the total for the calendar year to date to $246 billion. In the first 11 months of 2007, Ginnie Mae MBS issuance totaled $81.6 billion. By region, $6.7 billion from the West, $4.6 billion from the Midwest, $5.7 billion from the Mid-Atlantic, $8.7 billion from the South and $1.4 billion from the Southwest. "Ginnie Mae has consistently provided liquidity to the market and it is no surprise that our November MBS issuances were strong," said Joseph J. Murin, president of Ginnie Mae. "It is further proof that Ginnie Mae is continuing to thrive and provide stability."