Mortgage Daily

Published On: October 10, 2013

For the second quarter in a row, the issuance of multifamily securities was lower at the Federal National Mortgage Association. Even re-securitizations were down.

Third-quarter multifamily issuance at the Washington, D.C.-based company amounted to $5.7 billion, a news release Thursday said.

Business sank from the previous period, when issuance of multifamily mortgage-backed securities was $7.6 billion.

It was the second consecutive quarter of declines for Fannie Mae.

Activity also dropped from the third-quarter 2012, when issuance totaled $8.5 billion.

From Jan. 1 through Sept. 30, multifamily MBS issuance worked out to $21.5 billion.

The secondary lender said that it additionally re-securitized $1.7 billion in DUS MBS through its Fannie Mae Guaranteed Multifamily Structures program during the third quarter.

Prior-quarter re-securitizations were $3.0 billion, while year-earlier volume was $4.0 billion.

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