Issuance of mortgage-backed securities at Fannie Mae and Freddie Mac sank more than one-third from June. But combined securitizations have more than doubled since last year. Over at Ginnie Mae, issuance reached another all-time high.
July issuance at Fannie skidded to $76.9 billion from $127.9 billion the prior month, data published by eMBS indicated. In June 2008, issuance at the Washington, D.C.-based firm was just $32.5 billion.
So far in 2009, issuance at Fannie totals $536.1 billion.
Over at Freddie, $42.8 billion in mortgages were securitized, falling from $60.0 billion in July and $19.5 billion a year earlier. Freddie’s volume through June 30 was $295.8 billion.
Despite the declines at its government-controlled brethren, issuance at Ginnie Mae climbed to a record $44.2 billion last month from $42.3 billion the prior month. July 2008’s issuance was $24.9 billion.
Year-to-date at Ginnie, which is also known as the Government National Mortgage Association, MBS issuance was $246.5 billion.
