Ginnie Mae MBS issuance totaled $41 billion in June, basically unchanged from the prior month, according to the Government National Mortgage Association.
“This marks the second consecutive month that Ginnie Mae’s monthly issuance has topped $40 billion,” said Ginnie president Ted Tozer.
Overall, Ginnie Mae issuers securitized $122 billion in FHA, VA and Rural Housing government-backed loans in the third quarter of fiscal year 2013 ending June 30. It represents the highest issuance level since the fourth quarter of FY 2009—when Ginnie issuers securitized and sold $130.6 billion in government-backed loans to investors.
“The secondary market is still dependent upon the execution of the Ginnie Mae MBS to fulfill its liquidity needs,” Tozer said.
Issuance for Ginnie Mae II single-family pools led the way in June with more than $31.9 billion, while
Reverse mortgage lenders securitized $703 million in FHA-insured Home Equity Conversion Mortgages, down from $845 million in the May.
Securitizations of jumbo mortgages (with balances above $417,000) totaled $855 million in June, up from $576 million in the prior month.
June issuance of multifamily MBS totaled $2.3 billion, compared to $1.95 billion in May.
