Increased guarantees of mortgage-backed securities by the Government National Mortgage Association was driven last month by stronger residential activity, as multifamily issuance was lower.
The Washington, D.C.-based company guaranteed $39.958 billion in mortgage-backed securities during April.
Ginnie Mae’s total issuances increased from the $36.444 billion in volume during March.
Total issuance at the government-owned corporation was also higher than in April 2012, when securitization volume was $36.442 billion.
From Jan. 1 until April 30, Ginnie Mae issuances totaled $153.333 billion.
Since starting its fiscal-year 2013 on Oct. 1, 2012, Ginnie’s issuances amounted to $272.635 billion.
Residential issuance accounted for $37.814 billion of April’s total, up from $34.181 billion the previous month.
April’s residential activity included $0.812 billion in jumbo MBS and $0.972 billion in home-equity conversion mortgage MBS.
Year-to-date residential issuance was $144.497 billion as of April 30.
Multifamily MBS represented $2.144 billion of last month’s volume, down from $2.263 billion in March.
