For two consecutive months, the Government National Mortgage Association managed to lift overall securitization volume. Issuance weakened, however, for loans secured by apartment rental properties.
July guarantees by Ginnie Mae issuers were $27.7 billion, data released Friday indicated.
The Washington, D.C.-based company’s issuances amounted to $26.1 billion in June, which was also an up month.
But compared to $37.8 billion in July of last year, Ginnie’s securitizations have contracted.
From Jan. 1 through July 31, the government-owned corporation guaranteed $191.1 billion in mortgage-backed securities.
Issuance of Ginnie Mae II single-family pools was $18.21 billion, stronger than $17.3 billion in June.
Ginnie Mae I single-family pool securitizations were $7.26 billion, climbing from $6.6 billion.
Home-equity conversion mortgages that were securitized totaled $0.969 billion last month. In June, $0.8 billion in HECM MBS were issued.
Ginnie reported that multifamily issuance fell to $1.30 billion from June’s $1.5 billion. July’s decline followed a decline in June.