The Government National Mortgage Association reported that serious delinquency has improved. The government-owned corporation also reported stronger monthly issuance.
More than $35.5 billion in mortgage-backed securities were guaranteed by Ginnie Mae during November, a news release indicated.
While Ginnie didn’t report October activity, an analysis of year-to-date data by MortgageDaily.com suggests October guarantees were around $34.5 billion. A year earlier, business was $26.9 billion.
Last month’s issuance of Ginnie Mae II single-family pools was nearly $19 billion, while Ginnie Mae I single-family pool issuances totaled nearly $16 billion. Ginnie Mae Home Equity Conversion Mortgage-Backed Security activity was $1.2 billion, and multifamily MBS issuance was $0.8 billion.
Data from eMBS indicated $31.9 billion of November’s activity was fixed-rate.
From Jan. 1 through Nov. 30, volume totaled $407 billion, Ginnie said.
Single-family delinquency of at least 90 days was 3.43 percent on loans that are guaranteed by the Washington, D.C.-based company. Late payments improved from 3.48 percent in September and 3.59 percent at the end of last year.
The improvement in delinquency reflects the increase in this year’s new FHA originations — which take at least four months to become 90 days delinquent.
