MBS Issuance Slowest in 5 Months at Ginnie

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Securitizations on behalf of the Government National Mortgage Association turned lower last month, falling to the slowest volume in five months. The weak performance came off of a record year.

Government-owned Ginnie Mae finished October with $1.8941 trillion in outstanding
mortgage-backed securities — including $1.7873 trillion in residential loans and $0.1069 trillion in multifamily pools.

Tucked away in the residential portion were $0.0524 trillion in jumbo MBS, $0.0551 trillion in home-equity conversion mortgage MBS and $0.0003 trillion in manufactured housing MBS.

On the same date last year, there were $1.7393 trillion in total Ginnie Mae MBS outstanding.

MBS issuance during the first month of fiscal-year 2018 came to $40.140 billion — the slowest month since May 2017. Securitizations were a $41.580 billion in September and $49.348 billion in October 2016.

After the publication of the story about the September 2017 report, Ginnie issued a statement indicating that its
$505 billion in annual securitization activity during fiscal-year 2017 was “an all-time annual issuance record.”

Last month’s issuance was comprised of $1.863 billion in multifamily issuance and $38.277 billion in residential activity — including $1.782 billion in jumbo MBS and $0.913 billion in HMBS.

From Jan. 1, 2017, through Oct. 31, overall Ginnie Mae issuance amounted to $397.006 billion.

Mortgage Expert

Mortgage Daily Staff



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