Total monthly mortgage securitizations moved lower at the Government National Mortgage Association. But one bright spot was jumbo securitization activity.
Ginnie Mae saw $24.923 billion in total mortgage-backed securities issuance during February, according to monthly performance data.
It was the slowest month for the Washington-based company since April 2014, when $23.318 billion in government mortgages were securitized.
In the January of this year, Ginnie’s issuances came in at $28.650 billion, and the number was $21.249 billion in the same month last year.
Issuances amounted to $53.573 billion during the first
two months of 2015, while the total was $141.226 since the government-owned corporation began its fiscal-year 2015 on Oct. 1, 2014.
Residential issuances accounted for $23.888 billion of last month’s activity, falling from $27.466 billion a month earlier but rising from $20.029 billion a year earlier.
February 2015’s residential business included $1.201 billion in jumbo mortgages — better than $1.071 billion the previous month.
Home-equity
conversion mortgage issuance, however, fell to $0.635 billion from $0.712 billion in January.
Ginnie reported that multifamily issuance declined to $1.035 billion in February from $1.184 billion.
