The Government National Mortgage Association reported that business continued to slide, while more recent data indicate that the deterioration continued into the next month.
Ginnie Mae reported that it guaranteed $33.9 billion in mortgage-backed securities in September, off from $34 billion reported for August.
The decline was more pronounced from September 2009, when MBS issuance at the government-owned corporation was $39.7 billion.
Data reported by eMBS indicate that Ginnie’s business continued to slide in October, with fixed-rate issuance amounting to $27.1 billion compared to September’s $28.9 billion.
Ginnie Mae II single-family pools accounted for $19.552 of The Washington, D.C.-based company’s volume during September, while the issuance of HECMÂ MBS represented $0.796 billion and Ginnie Mae I single-family issuance was $12.279.
Ginnie said its multifamily issuance was $1.225 billion, easing from more than $1.3 billion a month earlier.
From Jan. 1 to Sept. 30, total MBS issuance was $295.7 billion.
