Residential and commercial mortgage securitizations backed by the Government National Mortgage Association surged to the highest level in the history of the company.
Issuance of Ginnie Mae mortgage-backed securities worked out to $47.068 billion during the month of July.
The Washington-based housing finance agency made the disclosure about its MBS issuance in a monthly operational report.
MBS issuance at the government-owned corporation was higher than during any other month in its 47-year history, a spokeswoman confirmed to Mortgage Daily.
During the first seven months of this year, securitizations
amounted to $258.994 billion.
Since starting its fiscal-year 2015 on Oct. 1, 2014, Ginnie issuances totaled $346.647 billion.
Securitizations of residential loans accounted for $45.542 billion of last month’s activity, climbing from $40.448 billion a month earlier and $27.377 billion a year earlier.
Included in residential issuance was $2.115 billion in jumbo loans, off from $2.148 billion in June.
Issuance of home-equity conversion mortgages made up another $0.809 billion of July’s residential activity, also down from
the prior month’s $0.845 billion.
Multifamily issuance represented $1.526 billion of the latest activity, falling from $1.835 billion in June 2015 and $1.782 billion in July 2014.