The new year started off strong at the Government National Mortgage Association, with the issuance of mortgage-backed securities guaranteed by the Washington, D.C.-based company climbing 9 percent from the previous month. Multifamily business, however, slumped.
Securitizations at the government-owned corporation amounted to $30.04 billion during January, according to monthly operational data.
Volume climbed from $27.53 billion in Ginnie Mae issuances for December.
Ginnie guarantees MBS that are used to finance residential and commercial mortgages insured by the Federal Housing Administration and home loans that are guaranteed by the Department of Veterans Affairs. Ginnie also guarantees MBS with loans originated under other government programs.
Ginnie Mae IÂ pools accounted for $6.34 billion of last month’s issuances, increasing from $5.66 billion in December.
Issuance of Ginnie Mae II pools jumped to $21.74 billion from $19.60 billion. Ginnie Mae IIÂ activity included $0.654 billion in home-equity conversion mortgage MBS issuance, better than $0.598 billion a month earlier.
On the commercial real estate side, $1.2 billion in Ginnie Mae multifamily MBSÂ was securitized, falling from the previous month’s $1.6 billion.
During fiscal 2012, which started on Oct. 1, 2011, Ginnie Mae issuances totaled $112.44 billion.
