With the Federal National Mortgage Association leading the way, agency mortgage securitizations climbed to the highest level in seven months.
Issuance
of fixed-rate mortgage-backed securities on behalf of Fannie Mae, Freddie Mac and Ginnie Mae amounted to $116.412 billion in August.
That was the strongest month since January, when total securitizations on behalf of the trio of government-controlled companies came to $131.706 billion.
Issuance was up from $108.265 billion in July but well short of $135.408 billion in August 2016.
From Jan. 1, 2017, through Aug. 31, there were $832.613 in fixed-rate MBS issued on behalf of the agencies, according to historical data provided to Mortgage Daily by eMBS.
Leading the month-over-month gain was Washington-based Fannie, where securitizations climbed 9 percent to $46.937 billion. Volume retreated 11 percent, however, on a year-over-year basis.
Year-to-date activity at Fannie
came to $331.737 billion.
Next up was the Federal Home Loan Mortgage Corp., which saw MBS volume climb 7 percent from July to $28.359 billion. Freddie’s fixed-rate issuance sank from August 2016 by 24 percent — the biggest decline from a year earlier of the three firms.
During the eight months ended Aug. 31, 2017, McLean, Virginia-based Freddie’s issuances were $208.532 billion.
With a 6 percent rise from the previous month, the Government National Mortgage Association had $41.116 billion in issuances last month and the weakest month-over-month increase. The Washington-based
corporation’s issuances were down 9 percent from a year prior.
Government-owned Ginnie’s MBS issuances totaled $292.344 billion so far this year.
