|As issuances of mortgage-backed securities bounced back at Fannie Mae and Freddie Mac, activity at Ginnie Mae continued a steady rise.
Issuance of fixed-rate mortgage-backed securities at the Federal National Mortgage Association reached $43.2 billion during February, according to data reported by eMBS. Fannie's securitizations were more than double the $20.1 billion volume in January but well below the $63.4 billion issued in February 2008.
January volume at the Washington, D.C.-based company had tumbled by nearly half from December -- so last month was effectively a recovery.
The Federal Home Loan Mortgage Corp.'s fixed-rate issuances last month, moving in a pattern similar to that of its government-sponsored brethren, jumped to $29.6 billion in February from $16.3 billion the prior month. A year earlier, Freddie's MBS volume was $40.1 billion.
Over at the Government National Mortgage Association, issuances of securitizations backed by fixed-rate mortgages were more steady.
e-MBS said Ginnie issuances were $27.4 billion in February, rising from $26.1 billion in January and more than double the $11.2 billion issued during February 2008.