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Agency MBS Issuance Eases

Mortgage News

Ginnie Mae ended a string of record breaking months, while mortgage-backed securities issuance at Fannie Mae also fell. But Freddie Mac issuance turned higher.

MBS issuance at Fannie during August was $57.8 billion, according to data reported by eMBS. Volume fell from $76.9 billion in July but was double the $28.4 billion issued in August 2008.

From Jan. 1 to Aug. 31, issuance at Washington, D.C.-based Fannie totaled $592.4 billion.

Over at government-controlled rival Freddie, last month’s issuance was $47.2 billion, climbing from $42.8 billion in July and $18.7 billion a year earlier.

Freddie’s year-to-date issuances were $343.0 billion.

Issuances at Government-owned Ginnie were $41.8 billion during August, down from $44.2 billion the previous month. It was the first monthly decline for Ginnie since December 2008 and coincided with the recent announcement that Ginnie Chief Executive Officer Joseph Murin would leave the company to work as a managing director at The Collingwood Group LLC.

MBS issuance was $27.5 billion during August of last year.

So far in 2009, Ginnie issuances totaled $288.4 billion.

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