Ginnie MBS Issuance Backs Off Record

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Following an all-time high reached at the Government National Mortgage Association, monthly mortgage securitizations settled back to a still-robust pace.

The unpaid principal balance of Ginnie Mae mortgage-backed securities outstanding concluded October at $1.7393 trillion based on monthly operational data.

The Washington-based corporation’s book of business expanded from $1.7281 trillion as of a month earlier and $1.6231 trillion as of a year earlier.

Residential MBS accounted for $1.6416 trillion of the latest total and included $0.0416 trillion in jumbo MBS, $0.0550 trillion in home-equity conversion mortgage MBS and $0.0003 trillion in
manufactured housing MBS.

Multifamily pools made up $0.0978 trillion of last month’s balance.

MBS issued on behalf of the government-owned organization
came to $49.348 billion, declining from the record $54.639 billion in Ginnie Mae MBS issued during September.

Still, business was better than $40.588 billion in October 2015 and was the second-highest month in 2016.

For all 10 months that have elapsed so far in 2016, Ginnie’s issuance amounted to $427.790 billion.

October 2016 securitizations included $47.426 billion in residential MBS. Jumbo issuance accounted for $2.686 billion of the residential total, while HMBS issuance was $0.832 billion.

Multifamily issuance represented $1.922 billion of the latest monthly issuance.

Mortgage Expert

Mortgage Daily Staff