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Ginnie Mae Issuance Climbs to Record High

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.

In June,
$42.283 billion in Ginnie Mae securities were issued, while the figure was $29.159 billion in July 2014.

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.

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