Mortgage Daily

Published On: December 1, 2014

The Federal National Mortgage Association led a month-over-month decline in the issuance of agency mortgage-backed securities.

Between Fannie Mae, Freddie Mac and Ginnie Mae, combined issuance of fixed-rate MBS amounted to $75.676 billion during November.

That was less than the $87.892 billion in securitizations a month earlier and the lowest level of activity since June.

In the same month last year, collective MBS issuance at the trio of housing finance agencies was $79.650 billion.

The data was provided courtesy of eMBS.

From Jan. 1 through Nov. 30 of this year, fixed-rate agency issuance totaled $792.664 billion.

Fannie took the biggest hit last month, with fixed-rate issuance at the Washington-based firm falling 19 percent from October to $29.092 billion. Fannie’s volume was down 20 percent from November 2013.

During the 11 months ended Nov. 30, Fannie’s issuance was $318.840 billion.

An 11 percent decline from the previous month left Ginnie’s November fixed-rate issuance at $24.873 billion. The government-owned corporation’s activity, however, climbed 8 percent from the same month in 2013.

Ginnie’s year-to-date Nov. 30 issuances totaled $254.157 billion.

McLean, Va.-based Freddie’s business was off just 8 percent from October to $21.711 billion. Year-over-year volume at the secondary lender was up 6 percent.

With just one month left in 2014, Freddie has issued $219.668 billion in fixed-rate MBS so far this year.

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