After soaring to the highest level in nearly four years, agency issuance retreated last month thanks to declines at Freddie Mac and Ginnie Mae.
In October, issuance of fixed-rate mortgage-backed securities on behalf of Fannie Mae, Freddie and Ginnie worked out to $144.984 billion.
Securitizations declined from the previous month, when issuance came to $157.656 billion — the most activity for the trio since November 2012.
But MBS issuance was substantially higher than $102.379 billion one year previous.
Historical data from
eMBS, which provides the statistics to Mortgage Daily, indicate that securitizations on behalf of the government-controlled agencies amounted to $1.1619 trillion during the first-10 months of 2016.
The Federal Home Loan Mortgage Corp. saw $35.273 billion in fixed-rate MBS issuance last month, declining from September by 18 percent — the most of the three companies. But Freddie’s volume rose by a third compared to October 2015.
So far this year, $303.113 billion has been issued on behalf of McLean, Virginia-based Freddie.
A10 percent month-over-month decline at the Government National Mortgage Association put October 2016 fixed-rate MBS issuance at $46.190 billion. Ginnie’s activity, however, was up nearly a quarter from the same month in 2015.
Washington-based Ginnie’s year-to-date issuance came to $401.856 billion.
The only one of the three organizations to see an increase in fixed-rate MBS issuance compared to September was the Federal National Mortgage Association, with volume inching up to $63.521 billion from $63.286 billion. Fannie’s securitizations soared 64 percent from October of last year.
From Jan. 1, 2016, through Oct. 31, MBS issuance on behalf of Washington-based Fannie worked out to $456.896 billion.
