|As monthly issuance at Fannie Mae and Freddie Mac tumbled, Ginnie Mae saw a new record.
Total agency issuance of residential mortgage-backed securities was $135.5 billion during April, data from eMBS indicate. Issuance fell from $178.1 billion the prior month but was higher than $106.1 billion in April 2008.
So far this year, agency issuance totals $476.3 billion.
At Fannie, last month's volume was $54.9 billion -- tumbling from March's $86.8 billion. The decline, however, followed 101 percent increase from February to March. In April 2008, Fannie issuance was $50.8 billion.
Year-to-date volume at the Washington, D.C.-based company is $204.9 billion.
Volume at Freddie fell to $46.4 billion in April from $57.4 billion the prior month. Freddie's activity also had surged from February to March. Issuance was $37.1 billion a year earlier.
Through April 30, Freddie issuance adds up to $149.6 billion.
Despite the decline at its government-run cousins, Ginnie saw record issuance last month.
eMBS reported $34.3 billion in volume during April for the government-owned corporation, climbing from $33.9 billion in March and $18.2 billion in April 2008.
From January to April, activity at Ginnie reached $121.7 billion