Monthly loan securitizations were lower at the Government National Mortgage Association. One bright spot, however, was reverse mortgage activity. Commercial mortgage issuance was unchanged.
Issuers of mortgage-backed securities guaranteed by the government-owned corporation securitized $27.96 billion in loans during February.
Business fell from January issuances of $30.04 billion.
But Ginnie Mae issuers generated more volume than during February 2011, when the Washington, D.C.-based company guaranteed $26.2 billion.
Year-to-date Feb. 29 issuances totaled $58.00 billion. On a fiscal basis, which includes securitizations from Oct. 1, 2011, through last month, $140.4 billion in MBS was guaranteed.
Single-family issuance accounted for $26.67 billion of last month’s activity, including $5.77 billion for Ginnie Mae I single-family pools and $17.95 billion for Ginnie Mae II single-family pools.
Home-equity conversion mortgage MBS issuances totaled $0.718 billion, growing from $0.654 billion in January.
Ginnie also guaranteed more than $1.2 billion in multifamily MBS during February, the same as the prior month.
