Mortgage Daily

Published On: February 2, 2009

As the monthly volume of mortgage-backed securities issued by the government sponsored enterprises tumbled from a year earlier, Ginnie Mae saw a healthy increase.

Last month, Fannie Mae issued $20.1 billion in fixed-rate MBS, data from eMBS indicates. Securitizations tumbled from $36.2 billion in December.

During January 2008, the Washington, D.C.-based secondary lender — formally known as the Federal National Mortgage Association — issued $45.6 billion.

But over at Freddie Mac, January issuances increased to $16.3 billion from $14.7 billion the prior month, according to eMBS. Securitizations at the GSE — which is also known as the Federal Home Loan Mortgage Corp. — were down, though, from $27.0 billion in January 2008.

The Government National Mortgage Association’s issuances, however, jumped from the prior month and the prior year.

Mortgage securitizations at Ginnie were $26.1 billion in January, eMBS said. Volume jumped from $22.7 billion the prior month and was more than double the $11.2 billion in issuances during January 2008.

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