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15-Month High for Ginnie’s HMBS Issuance

Mortgage News

Although overa1l issuance eased at the Government National Mortgage Association, issuance of reverse mortgage securities was the highest it’s been in 15 months.

As of Nov. 30,
there were $1.9036 trillion in outstanding mortgage-backed securities at Ginnie Mae, according to monthly operational data released Monday.

The Washington-based organization’s book of business continued to grow from $1.8941 trillion
one month earlier and $1.7506 trillion one year earlier.

Last month’s total consisted of $0.1077 trillion in multifamily pools and $1.7959 trillion in residential MBS.
The residential portion included $0.0533 trillion in jumbo MBS and $0.0550 trillion in home-equity conversion mortgage MBS.

The data indicate that $39.201 billion in MBS were issued on behalf of the government-owned corporation last month. Business declined from $40.140 billion during October and $48.949 billion in November 2016.

November 2017’s total was comprised of $1.467 billion in multifamily pools and $37.734 billion in residential securitizations. Jumbo activity contributed $1.761 billion to last month’s residential total, while HMBS made up $0.989 billion — the most HMBS issued since $0.996 billion was issued in August 2016.

Overall MBS issuance at Ginnie came to
$436.207 billion during the first-11 months of this year. Since its fiscal-year 2018 started on Oct. 1, 2017, issuance came to $79.341 billion.

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