Ginnie Mae officials expect to guarantee $300 billion to $325 billion in mortgage-backed securities in fiscal year 2009, up from $220 billion in FY 2008 (which ended Sept. 30). "We are looking at another significant growth year," said Ginnie president Joseph Murin. He told reporters that some of agency's biggest issuers expect to securitize 40% to 50% of their mortgage production through Ginnie Mae. Ginnie Mae topped Fannie Mae and Freddie Mac in MBS issuance in October and November. Mr. Murin said Ginnie issuance in December will probably be somewhere between $27 billion and $29 billion.
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