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Res Issuance Down at Ginnie, Apartment Activity Up

The issuance of Ginnie Mae mortgage-backed securities has retreated during the past 12 months, though apartment activity has accelerated.

Last month’s issuance at the government-owned corporation amounted to $26.2 billion, a news release Friday indicated.

A year earlier, volume at the Government National Mortgage Association — as it is formally known — was $29.3 billion.

February’s $25 billion in just residential securitizations included $16.44 billion in Ginnie Mae II single-family pools, $7.62 billion in Ginnie Mae I single-family pools and $0.89 billion in HECM MBS.

Multifamily issuance came in at $1.25 billion, higher than $0.7 billion in the same month last year.

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