The issuance of Ginnie Mae mortgage-backed securities was down 12 percent last year. Despite a monthly downturn in the overall guarantees, issuance of securities backed by reverse mortgages and multifamily loans was higher.
December total issuance came in a $33.5 billion at the Washington, D.C.-based company, lower than $34.3 billion previously reported for November. Volume was also worse than $42.4 billion in the final month of 2009.
Last month’s issuance of Ginnie Mae II single-family pools was $18.5 billion, the same as November. But Ginnie Mae I single-family pool issuance fell to $12.3 billion from $13.9 billion.
Issuance of mortgage-backed securities for home-equity conversion mortgages was $1.0 billion, higher than $0.9 billion in HMBS activity during November, according to the government-owned corporation.
Multifamily issuances included in December’s total were $1.7 billion, jumping from $1.2 billion the prior month.
The latest activity brought the total issuance for calendar-year 2010 to $399 billion. In the previous year, Ginnie issuance was higher at $454 billion.