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