Securitization of home loans and apartment loans that are guaranteed by the Government National Mortgage Association grew last month on both a month-over-month and year-over-year basis.
March issuance of Ginnie Mae mortgage-backed securities came in at $29.23 billion.
Volume grew from February issuance of $27.96 billion. Business was also stronger than March 2011, when issuance amounted to $24.1 billion.
During the first three months of 2012, securitizations at the Washington, D.C.-based company totaled $87.23 billion. Since beginning its fiscal year in October 2011, issuance amounted to $169.63 billion.
“Without Ginnie Mae providing liquidity via the secondary market for government-insured mortgage loans, the turmoil in the housing market would have been much worse,” Ginnie Mae President Ted Tozer proclaimed in the report.
Total single-family issuance was $27.78 billion, strengthening from February’s $26.67 billion. The residential figure was around $22.7 billion in March 2011.
Issuance of Ginnie Mae I single-family pools fell to $5.34 billion last month from February’s $5.77 billion, while Ginnie Mae IIÂ single-family pool activity jumped to $21.56 billion from $17.95 billion.
The securitization of home-equity conversion mortgage-backed securities increased to $0.882 billion from the prior month’s $0.718 billion.
Multifamily issuance exceeded $1.4 billion, growing from more than $1.2 billion in February and in excess of $1.3 billion in March 2011.
