The volume of monthly securitizations moved lower at the Government National Mortgage Association. Both residential and commercial real estate activity were down.
The month of September saw $28.283 billion in Ginnie Mae mortgage-backed securities that were securitized by approved issuers.
Activity slumped compared to the $31.471 billion in MBS issued the previous month. Volume was similarly down from the $31.224 billion issued in the same month during 2013.
From Jan. 1 through Sept. 30, Ginnie MBS issuance totaled $225.838 billion.
During its fiscal-year 2014, which started on Oct. 1, 2013, Ginnie issuances were $302.150 billion, tumbling from the previous year’s $460.375 billion.
September 2014 activity included $26.957 billion in residential issuance, falling from $29.829 billion a month earlier and $28.743 billion a year earlier.
Issuance of jumbo MBS fell to $0.765 billion from $0.908 billion in August.
Also included in residential issuance was $0.498 billion in home-equity conversion mortgage MBS, slowing from the previous month’s $0.518 billion.
Ginnie’s multifamily issuance declined to $1.326 billion from $1.642 billion in August and $2.481 billion in September 2013.
Fiscal-year 2014 multifamily issuance was $17.529 billion. Calendar-year-to-date CRE issuance was $13.075 billion.
