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Agency MBS Volume Roaring

Mortgage News

Monthly issuance of mortgage-backed securities at the two government sponsored housing enterprises has roughly doubled during the past year, while June volume at the Government National Mortgage Association reached another high.

At Fannie Mae, issuances were $127.9 billion during June, according to data reported by eMBS. Volume crept higher from $127.0 billion the prior month and was more than double the $46.5 billion in issuances a year earlier.

Second-quarter volume at the Washington, D.C.-based firm was $309.7 billion, more than double the $150.0 billion issued in the first quarter. During the second-quarter 2008, volume was $155.2 billion.

Between Jan. 1 and June 30, Fannie’s issuances were $459.7 billion.

Secondary rival Freddie Mac’s MBS volume shot up to $60.0 billion from $43.6 billion in May and $32.8 billion in June 2008.

Second quarter volume at the McLean, Va.-based company was $149.8 billion, up from the prior period’s $103.2 billion and the prior year’s $110.6 billion.

Freddie’s first-half volume was $253.1 billion.

Issuance of Ginnie Mae MBS, which reached a record $38.2 billion in May, climbed to $42.3 billion in June. A year earlier, Ginnie issuances were $26.4 billion.

Ginnie’s securitizations were $114.8 billion during the latest quarter, rising from $87.4 billion in the fourth quarter and $65.2 billion in the second-quarter 2008.

So far this year, Ginnie’s MBS volume totaled $202.3 billion.

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