Reverse mortgage securitizations dropped by nearly half, helping to push overall issuances lower at the Government National Mortgage Association. But delinquency improved.
January guarantees amounted to $38.1 billion, Ginnie Mae reported today. Activity declined from $42.4 billion in mortgage-backed securities issued during December.
In January 2009, reported volume was $27.3 billion, according to the government-owned corporation. Since its fiscal year began Oct. 1, 2009, Ginnie’s issuances totaled around $150.5 billion.
Ginnie Mae II single-family pools accounted for more than $22 billion of last month’s activity, while Ginnie Mae I single-family pools exceeded $15 billion.
Issuance of Ginnie Mae home-equity conversion mortgage-backed securities was $0.8 billion, sinking from December’s $1.5 billion.
January’s fixed-rate issuances were $34.2 billion, according to data from eMBS.
Multifamily MBS issuance was over $0.8 billion, Ginnie reported.
The Washington, D.C.-based company said single-family delinquency of at least 90 days was 2.35 percent in January — tumbling from 3.25 percent reported for December. While data weren’t available for a year earlier, delinquency was 3.59 percent during December 2008.
