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2015 Ginnie MBS Issuance Likely to Beat Record

Mortgage News

Securitizations of mortgages on behalf of the Government National Mortgage Association are likely to reach an all-time high this year.

Issuers of Ginnie Mae mortgage-backed securities put out $40.588 billion of the government-owned corporation’s securities during October.

Volume dipped modestly lower from the previous month, when issuance on behalf of Washington-based Ginnie came to $40.894 billion.

The secondary statistics were provided by Ginnie in a monthly report.

But business was stronger than the same month last year, when MBS issuance amounted to $31.391 billion.

Since Jan. 1, 2015, issuance of Ginnie Mae MBS totaled $385.380 billion — far more than the $313 billion that was issued during all of 2014.

On an annualized basis, that puts 2015 on track to shatter the $454 billion record reached in 2009.

During the first month of its fiscal-year 2016,
volume was $40.588 billion.

Residential issuance made up $39.170 billion of last month’s activity, dipping from $39.291 billion the prior month but strengthening from $29.904 billion in October 2014.

Although jumbo issuance slipped to $1.598 billion from $1.605 billion in September, issuance of home-equity conversion mortgages was up to $0.789 billion last month from $0.680 billion.

Multifamily issuance fell to $1.418 billion for October from the previous month’s $1.603 billion and from the year-earlier’s $1.487 billion.

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