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.
