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Record Ginnie Mae MBS Issuance

Mortgage News

Residential and commercial loan securitizations on behalf of the Government National Mortgage Association climbed to the highest level on record last month.

As of June 30, there were $1.6925 trillion in Ginnie Mae mortgage-backed securities that were outstanding, an analysis of monthly operational data indicates.

The Washington-based firm’s outstanding MBS grew from a month earlier, when the total was $1.6834 trillion, and a year earlier, when it was $1.5609 trillion.

The most-recent total included
$1.5963 trillion in residential MBS, rising from $1.5877 trillion as of May 31 and $1.4700 as of mid-2015.

Residential MBS included $0.0369 trillion in jumbo mortgages, $0.0543 trillion in home-equity conversion mortgages and $0.0003 trillion in manufactured housing loans.

Also reflected in the overall total were $0.0962 trillion in multifamily MBS, up from $0.0957 trillion the prior month and $0.0909 trillion the year-prior month.

During July 2016, MBS issuance on behalf of the government-owned corporation totaled $47.338 billion.

Mortgage Daily maintains data back to January 2008 — and last month’s volume was greater than any month during that period.

Securitizations rose from $45.185 billion in the previous report and $47.068 billion a year previous.

Ginnie Mae issuance amounted to $275.379 billion during the seven months ended July 31, 2016, and $384.908 billion since the company started its fiscal-year 2016 on Oct. 1, 2015.

Residential issuance accounted for $46.030 billion of last month’s total, more than $43.893 billion in June and $45.542 billion in July 2015.

Residential issuance included $2.212 billion in jumbo activity and $0.704 billion in HECM securitizations.

Multifamily issuance rose to $1.308 billion from $1.292 billion but declined from $1.526 billion in the same month last year.

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