Monthly issuance of mortgage-backed securities guaranteed by the Government National Mortgage Association climbed the highest level since 2013.
Total Ginnie Mae MBS issuance, including residential and multifamily activity, was $32.068 billion during March, according to operational data.
Securitizations on behalf of the Washington-based company jumped from $24.923 billion the previous month and nearly doubled the $17.793 billion in MBS issued the same month last year.
The last time MBS activity was this strong was in August 2013, when issuance came in at $35.301 billion.
From the beginning of fiscal-year 2015 on Oct. 1, 2014, through March 31, 2015, MBS issuance at the government-owned corporation amounted to $173.294 billion.
From Jan. 1, 2015, through the end of last month, $85.641 billion in Ginnie Mae MBS was issued.
Last month’s activity included $30.659 billion in residential issuance, up from $23.888 billion in February and $16.625 billion in March 2014.
March 2015 residential issuance included $1.592 billion in jumbo mortgages and $0.660 billion in home-equity conversion mortgages.
Multifamily issuance climbed to $1.409 billion last month from $1.035 billion a month earlier and $1.168 billion a year earlier.
