While monthly issuance of mortgage-backed securities was lower at both the Federal National Mortgage Association and the Government National Mortgage Association, a surge in activity at the Federal Home Loan Mortgage Corp. was enough to drive overall agency securitizations higher.
Aggregate issuance of fixed-rate MBS by all three housing finance agencies was $134.333 billion during June.
Volume increased from $119.561 billion in May and was nearly double the $69.840 billion in loans securitized during June 2011.
The data, provided by information provider eMBS, indicated that agency issuance amounted to $726.104 billion during the first half of 2012.
Behind the month-over-month gain was Freddie Mac, which pushed up its fixed-rate issuance to $41.912 billion from May’s $24.431 billion. The McLean, Va.-based company’s volume was more than double the $18.305 billion securitized a year earlier.
Freddie’s issuances totaled $197.161 billion during the first six months of this year.
The securitization of fixed-rate loans at Fannie Mae slipped to $61.903 billion in June from the previous month’s $62.534 billion. But the secondary lender’s volume far surpassed the $30.592 billion in securitizations during June 2011.
From Jan. 1 through June 30, Fannie’s volume totaled $356.784 billion.
Last and least was Ginnie Mae, where fixed-rate issuance fell to $30.519 billion from May’s $32.596 billion. But, as with its two agency counterparts, the government-owned corporation managed a gain from a year earlier when volume was $20.942 billion.
Ginnie’s year-to-date June 30 issuance was $172.159 billion.
