The volume of mortgage-backed securities issued on behalf of Fannie Mae, Freddie Mac and Ginnie Mae was stronger than during any month since last fall.
Fixed-rate agency MBS issuance was $80.139 billion during July. That was more than in any month since October 2013, when volume came in at a revised $89.375 billion.
Securitizations increased from the revised $72.427 billion issued during the previous month but were down by nearly half from the revised $139.366 billion in activity during June 2013.
Issuance data was delivered courtesy of eMBS, a provider of mortgage data and analytics.
In the seven months ended July 31, agency MBS issuance amounted to $457.152 billion.
Leading last month’s gain was the Federal National Mortgage Association, where fixed-rate issuance climbed 12.9 percent from June to $33.040 billion. But the Washington D.C.-based company also led the year-over-year decline at 52 percent.
From Jan. 1 to July 31, Fannie’s issuances totaled $186.022 billion.
Next was the Federal Home Loan Mortgage Corp., where fixed-rate issuance was $21.621 billion in July, retreating 12.7 percent from a month earlier. Freddie’s volume was off by 39 percent compared to a year earlier.
Year-to-date July 31 activity at the McLean, Va.-based firm landed at $124.387 billion.
The Government National Mortgage Association had the smallest decline from June: six percent. Government-owned Ginnie’s issuance was down 27 percent from July 2013 to $25.478 billion.
So far during 2014, Ginnie’s fixed-rate MBS issuances were $146.744 billion.
