After soaring in the final month of last year, securitizations at Fannie Mae sank in the first month of this year — leading overall agency issuance lower.
January 2017 saw $131.788 billion in fixed-rate mortgage-backed securities that were issued on behalf of Fannie, Freddie Mac and Ginnie Mae.
Activity
retreated from the previous month, when aggregate loan securitizations at the trio of government-controlled entities came to $156.852 billion.
The data was provided to Mortgage Daily by eMBS.
But business was far stronger than in
the first month of 2016, when agency issuance totaled $86.232 billion.
Last month’s decline was led by the Federal National Mortgage Association, where volume slid 26 percent from
December 2016 to $52.740 billion. Securitizations at Washington-based Fannie, though, leapt 59 percent from January 2016.
A 10 percent month-over-month drop at the Government National Mortgage Association left January 2017’s issuance at $41.308 billion.
But Washington-based Ginnie saw a one-third year-over-year increase.
Finally, securitizations at the McLean, Virginia-based Federal Home Loan Mortgage Corp. were off 6 percent from the final month of 2016 to $37.740 billion last month. But, like its agency counterparts, Freddie lifted volume from the first month of 2016, by a whopping 73 percent.
