Issuance of Ginnie Mae mortgage-backed securities dropped by nearly a quarter last month. Apartment activity also ebbed.
The Government National Mortgage Association guaranteed $29.3 billion in mortgage-backed securities during February, a news release today said. Volume tumbled from $38.1 billion previously reported for January.
But activity at the Washington, D.C.-based corporation was higher than $27.9 billion in February 2009.
Issuance of Ginnie Mae II single-family pools accounted for $18 billion of last month’s volume, while Ginnie Mae I single-family pools made up $11 billion.
Fixed-rate issuance represented $25.8 billion of the latest issuances, according to data reported by eMBS.
Since beginning its fiscal year on Oct. 1, 2009, Ginnie’s issuances totaled $179.8 billion.
Multifamily issuance was $0.7 billion, off from $0.8 billion a month earlier.
In January, single-family delinquency of at least 90 days tumbled 90 basis points from the previous month to 2.35 percent. But the government-owned company did not report delinquency this month.
However, the Federal Housing Administration did report Friday February FHA delinquency and said it declined 20 BPS from January.