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Fannie’s Monthly MBS Issuance Sinks Below Ginnie’s

Agency mortgage securitizations tumbled last month as activity at the Federal National Mortgage Association was lower than at the Government National Mortgage Association.

Combined issuance of fixed-rate mortgage-backed securities on behalf of Fannie Mae, the Federal Home Loan Mortgage Corp. and Ginnie Mae was $82.953 billion in November.

Volume dropped compared to the previous month, when agency issuance was $102.429 billion.

But MBS issuance at the trio of government-controlled housing finance agencies was up from the same month last year, when a combined $75.660 billion in fixed-rate MBS was issued.

The statistics were based on data provided by eMBS.

During the 11 months ended Nov. 30, fixed-rate issuance at Fannie, Freddie and Ginnie totaled $1.1253 trillion.

Compared to October, issuance at Fannie tumbled 31 percent to $26.623 billion. Securitizations at the Washington-based company were down eight percent versus November 2014.

From Jan. 1 through Nov. 30 of this year, fixed-rate issuance at Fannie amounted to $425.076 billion.

Over at Freddie, fixed-rate MBS issuance was $22.612 billion in November 2015, down 15 percent from a month earlier but up four percent from a year earlier.

Year-to-date Nov. 30, 2015, issuance at the McLean, Virginia-based firm totaled $311.384 billion.

Issuance on behalf of Washington-based Ginnie slipped nine percent from October to $33.718 billion — more than at both Fannie and Freddie. Ginnie’s issuance jumped 36 percent on a year-over-year basis.

With just a month left in the year, Ginnie’s year-to-date MBS issuances amount to $388.845 billion.

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