Agency issuance of mortgage-backed securities fell last month but soared from a year earlier.
Fixed-rate MBS issuance at the Federal Home Loan Mortgage Corp., the Federal National Mortgage Association and the Government National Mortgage Association totaled $100.5 billion during January, according to data reported by eMBS.
Agency issuance was higher the prior month at $119.0 billion. But last month’s activity was well above the $62.4 billion securitized during January 2009.
At government-controlled Fannie Mae, volume dropped to $38.1 billion from December’s $45.6 billion. But business was better than $20.1 billion in January 2009.
Freddie Mac, which is also operating under government control, saw last month’s business drop to $28.3 billion from the prior month’s $34.7 billion. Freddie also lifted issuances above last year, when volume was $16.2 billion.
Issuance of Ginnie Mae MBS declined to $34.2 billion in January from December’s $38.8 billion. Issuance at the government-owned firm was lower a year ago at $26.1 billion.
