During calendar 2008, issuance of Ginnie Mae mortgage-backed securities was nearly $270 billion, a report last month from the government-owned corporation said. Volume was more than double the $97 billion reported for calendar 2007.

A report today from Ginnie indicated MBS issuance during January was $27.3 billion, up from $24 billion in December.

So far in fiscal 2009, which began on Oct. 1, MBS volume reached $109.0 billion. During the first four months of fiscal 2008, issuances were just $43.3 billion.

January issuances were highest in the South, at $8.2 billion, and lowest in the Southwest, at $1.3 billion.

A report earlier this month from eMBS indicated Ginnie's issuances were $26.1 billion in January and $22.7 billion the prior month. eMBS data indicated that full-year calendar 2008 volume of $256.5 billion soared from $89.1 billion in calendar 2007.