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Agency MBS Issuance Up Despite Decline at Fannie

Mortgage News

A dip in monthly securitizations at the
Federal National Mortgage Association was more than offset by an increase in activity at both of its two housing finance counterparts.

Between Fannie Mae, the Federal Home Loan Mortgage Corp. and the Government National Mortgage Association, there were $99.571 billion in fixed-rate mortgage backed securities issued during June.

Combined MBS issuance improved by nearly 3 percent compared to the preceding month. But volume has moved lower by 6 percent versus the same month last year.

The data was presented to Mortgage Daily by eMBS.

During the first-half of this year, combined issuance from the trio of government-controlled companies came to $561.389 billion.

At government-owned Ginnie Mae, fixed-rate
issuance came to $34.175 billion, improving from May by 5 percent — the most of the three firms. The Washington-based corporation’s business fell, however, 11 percent from June 2017. During the six months ended June 30, volume totaled $189.240 billion.

A nearly 5 percent rise left Freddie Mac’s issuance at $28.318 billion. Freddie’s issuance leapt 17 percent from the same month last year — the only year-over-year gain among the three firms. Year-to-date issuance at the McLean, Virginia-based organization amounted to $143.934 billion.

The only month-over-month decline was at Fannie, which saw a 1 percent dip to $37.078 billion. Fannie’s business has fallen 13 percent from the same month a year ago. Since the beginning of 2018, Fannie’s issuances worked out to $228.215 billion.

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