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Ginnie’s Jumbo Issuance Jumps to 2.5-Year High

It’s been more than two-and-a-half years since issuance of jumbo mortgage-backed securities at the Government National Mortgage Association has been this high.

Ginnie Mae closed out 2014 with $28.475 billion in total mortgage-backed securities issuance during December, according to operational data.

The Washington-based company nudged volume up from
the previous month’s $27.787 billion.

Securitizations also increased from the final month of 2013, when $22.306 billion in MBS was issued on behalf of the government-owned corporation.

During all of 2014, issuers of Ginnie Mae securities issued $313.491 billion in MBS, falling short of the $417.385 billion in 2013.

During the first three months of Ginnie’s fiscal-year 2015, volume amounted to $87.653 billion.

December 2014 issuances included $26.779 billion in residential loans, slightly more than the previous month’s $26.329 billion and much better than the $20.728 billion in residential issuances a year earlier.

Last month’s residential activity included
$1.130 billion in jumbo issuances — the most since May 2012, when $1.165 billion in jumbo loans were securitized.

Also included in December’s residential volume was $0.648 billion in home-equity conversion mortgages.

Ginnie’s multifamily issuances climbed to $1.696 billion from $1.458 billion in November and $1.578 billion in December 2013.

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