Issuance of mortgage-backed securities that are guaranteed by the Government National Mortgage Association was lower last month. But pockets of strength included reverse mortgage issuances, jumbo loan securitizations and multifamily loan transactions.
Ginnie Mae securitizations turned lower in October, with total volume coming in at $36.802 billion, according to operational data from the Washington, D.C.-based firm.
Business fell from $39.080 billion in September. But monthly issuances turned out much stronger than in October 2011, when a total of $25.516 billion in transactions were closed.
Residential issuances accounted for $34.791 billion of last month’s number, less than the $37.275 billion in issuances a month earlier.
Guarantees of home-equity conversion MBS jumped to $0.707 billion from September’s $0.600 billion.
Jumbo volume moved up to $0.785 billion from $0.767 billion the previous month.
Multifamily MBS issuance grew to $2.011 billion from September’s $1.805 billion. Ginnie guaranteed just $1.401 billion in multifamily business during October 2011.
Including residential and multifamily loans, total securitizations during the 10 months ended Oct. 31 was $342.399 billion at the government-owned corporation.
