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Agency MBS Issuance Highest Since 2009

It was the best month since 2009 for issuers of agency mortgage-backed securities. Business would have been even better if it weren’t for a drop in activity at the Federal Home Loan Mortgage Corp.

Issuance of fixed-rate mortgage-backed securities for the Federal National Mortgage Association, the Government National Mortgage Association and Freddie Mac amounted to $149.000 billion in April.

The preliminary data was supplied by eMBS.

The last time fixed-rate agency issuance was this high was in July 2009. That month’s volume reached $163.789 billion.

Last month’s activity was only slightly better than in March, with the three companies having guaranteed or acquired a combined $145.283 billion in MBS during the month-earlier period.

But it was much better than the revised $104.163 billion in MBS activity in April of last year.

Issuance of Fannie Mae securities moved higher to $69.564 billion during the most recent month from March’s $63.519 billion.

During the first four months of this year, Fannie’s fixed-rate issuance totaled $287.709 billion.

Ginnie Mae issuance jumped to $36.079 billion, according to eMBS, from the previous month’s $32.762 billion.

Ginnie’s year-to-date number concluded April at $138.387 billion.

Unlike the increase in business at both Fannie and Ginnie, MBS activity slowed at Freddie.

The McLean, Va.-based company issued $43.356 billion last month. In March, Freddie’s issuance was $49.002 billion.

From Jan. 1 through April 30, Freddie Mac issuance totaled $172.786 billion.

All three housing finance agencies generated more business last month than in April 2012.

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