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Agency MBS Issuance Lowest Since 2014

Mortgage News

Monthly securitizations on behalf of the housing finance agencies tumbled to the lowest level since 2014. Volume was highest at Ginnie Mae.

Issuance of Fannie Mae, Freddie Mac and Ginnie Mae fixed-rate mortgage-backed securities during February came to $77.305 billion.

Securitizations on behalf of the trio of government-controlled organizations has not been as slow as it was last month since November 2014, when agency issuance finished the month at $75.660 billion.

That was according to data provided to Mortgage Daily by eMBS.

Fixed-rate issuance was
$86.244 billion in January 2016 and $84.304 billion in February 2015.

Year-to-date Feb. 29, 2016, agency issuance amounted to $163.549 billion.

Taking the biggest toll on last month’s issuance was Washington-based Fannie, where volume tumbled 15 percent from January 2016 to $28.279 billion.

So far in 2016, Fannie’s fixed-rate issuance works out to $61.553 billion.

Next was Freddie, where MBS issuance was down 9 percent to $19.801 billion in February.

During the first two months of this year, $41.641 billion in fixed-rate MBS were issued on behalf of McLean, Virginia-based Freddie.

Although government-owned Ginnie had a 6 percent month-over-month decline, its $29.226 billion in MBS issuance was more than at both Fannie and Freddie.

During January and February, fixed-rate MBS issuance at Washington-based Ginnie was $60.355 billion.

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