It’s been almost a year since securitizations at the Government National Mortgage Association were as slow as they were last month.
February 2017 concluded with $1.7982 trillion in Ginnie Mae mortgage-backed securities outstanding
— the most on record.
The Washington-based firm’s book of business expanded from $1.7865 trillion a month earlier and $1.6615 trillion a year earlier.
Ginnie’s outstandings as of last month consisted of $1.6978 trillion in residential MBS and $0.1004 trillion in multifamily pools. The residential portion included $0.0465 trillion in jumbo MBS and $0.0552 trillion in home-equity conversion mortgage MBS.
MBS issuance on behalf of Ginnie came to $34.370 billion last month. That turned out to be the slowest month for the government-owned corporation since March 2016, when just $33.750 billion in Ginnie Mae MBS was issued.
Volume tumbled from $44.197 billion in January but was up from $31.537 billion in February 2016.
In the first-two months of 2017, MBS issuance amounted to $78.567 billion, while $226.276 billion has been issued since Ginnie’s fiscal-year 2017 began on Oct. 1, 2016.
February 2017 MBS issuance was comprised of $33.028 billion in residential MBS and $1.342 billion in multifamily issuance.
Residential activity included $1.522 billion in jumbo issuance and $0.713 billion in HMBS issuance.
