With a little help from its government-owned counterpart, the
Federal National Mortgage Association drove overall issuance of agency mortgage-backed securities higher just one month after retreating.
Hardly any change was recorded from one month earlier, when the trio of government-controlled companies saw $99.571 billion of their securities issued.
But activity descended 8 percent versus the same month last year.
Historical data provided to Mortgage Daily from eMBS indicate that from Jan. 1 through July 31 of this year, fixed-rate agency issuance amounted to $660.925 billion.
Issuance at Fannie was up 5 percent from June to $39.032 billion. But volume fell 9 percent from July 2017. Year-to-date issuance at the Washington-based organization worked out to $267.230 billion.
Ginnie Mae’s MBS issuance inched up 1 percent to $34.664 billion. However volume at Ginnie, which is also based in Washington, tumbled 11 percent from the same month last year. Issuance of Ginnie’s MBS totaled $223.898 billion in the seven months ended July 31.
Finally, Freddie Mac’s fixed-rate MBS issuance was $25.866 billion last month, sinking 9 percent from the preceding month but off just 2 percent from July of last year. So far this year, issuance of the McLean, Virginia-based firm’s MBS came to $169.798 billion.