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Agency Issuance Lower, Though Freddie Higher

Mortgage News

The total issuance of mortgage-backed securities guaranteed by the three government-controlled agencies eased last month, though year-over-year activity was stronger. But the Federal Home Loan Mortgage Corp. saw an uptick in monthly activity.

During October, Fannie Mae, Freddie Mac and Ginnie Mae had $126.7 billion in fixed-rate MBS issuance, according to data published by eMBS. A month earlier, $129.6 billion was issued, while October 2009 activity was $96.8 billion.

eMBS statistics indicate that agency volume was $994.2 billion from Jan. 1 to Oct. 31.

Issuance at the biggest of the three agencies, the Federal National Mortgage Association, was $63.7 billion last month, edging down from $65.6 billion in September but higher than $36.4 billion a year earlier.

Fannie’s year-to-date issuances amounted to $424.7 billion.

Next was Freddie, where October activity actually edged up to $35.9 billion from $35.1 billion the previous month. Last year at the same time, Freddie’s fixed-rate issuances were $25.4 billion.

Through Sept. 30, issuances at McLean, Va.-based Freddie were $280.1 billion.

Last, but not least, was the Government National Mortgage Association, where MBS issuances fell to $27.1 billion from September’s $28.9 billion and October 2009’s $35.0 billion.

Ginnie Mae issuers have securitized $289.3 billion thus far this year.

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