Although monthly mortgage securitizations moved lower at the Government National Mortgage Association, the issuance of reverse mortgages accelerated.
In a monthly operational summary, Ginnie Mae reported that issuance of mortgage-backed securities was $37.076 billion in November.
Issuers of the Washington-based company’s MBS slowed activity compared to the previous month, when volume totaled $40.588 billion.
But securitizations have risen versus the same month last year, when MBS issuance was just $27.787 billion.
During the 11 months ended Nov. 30, 2015, issuers of securities on behalf of the government-owned corporation securitized
a total of $422.456 billion.
Since starting its fiscal-year 2016 on Oct. 1, 2015, Ginnie’s issuances amounted to $77.664 billion.
Contributing to the latest volume was $35.753 billion in residential issuance, falling from $39.170 billion in October.
Residential issuance was up, however, from $26.329 billion in November 2014.
Year-to-date Nov. 30, 2016, residential issuance came to $405.537 billion.
Included in November 2015 residential activity was $1.322 billion in jumbo issuance,
falling from the prior month’s $1.598 billion.
Also included was $1.237 billion in the securitization of home-equity
conversion mortgages, an increase over the $0.789 billion in HMBS issued in October.
Multifamily issuance fell to
$1.323 billion from $1.418 billion a month earlier. Multifamily business was also down from November 2014, when volume totaled $1.458 billion.
From Jan. 1 through Nov. 30 of this year, multifamily issuance at Ginnie added up to $16.919 billion.
