Quarterly issuances at the Government National Mortgage Association climbed to near-record levels, while delinquency improved.
More than $42.4 billion in mortgage-backed securities were guaranteed by the government-owned corporation during December, according to data released today.
Business included more than $23 billion in Ginnie Mae IIÂ single-family pools, more than $18 billion in Ginnie Mae I single-family pools and $1.5 billion in home-equity conversion MBS. Multifamily MBS volume was more than $1 billion.
In November, the Washington, D.C.-based firm guaranteed $35.5 billion, while December 2008 volume was $24 billion. Ginnie reached a record in July 2009, when volume was $45.6 billion.
For all of last year, MBS issuance exceeded $454 billion at Ginnie, jumping from $270 billion during calendar 2008.
Delinquency during November of at least 90 days was 3.25 percent, improving from 3.43 percent in October. Delinquency was higher last year at 3.59 percent.
