Ginnie Mae has announced it guaranteed $29.2 billion in mortgage-backed securities (MBS) in March.
According to the agency, the issuance for Ginnie Mae II single-family pools led the way with more than $21.56 billion, while Ginnie Mae I single-family pools totaled more than $5.34 billion. Total single-family issuance for March was $27.78 billion. Issuance for Ginnie Mae Home Equity Conversion MBS included in Ginnie Mae II single-family pools came in at $882 million. Ginnie Mae's multifamily MBS issuance was more than $1.4 billion.
‘Ginnie Mae has been a key component of the country's economic recovery,’ says Ginnie Mae President Ted Tozer. ‘Without Ginnie Mae providing liquidity via the secondary market for government-insured mortgage loans, the turmoil in the housing market would have been much worse. And, given Ginnie Mae's consistently high issuance levels, it is clear that issuers and investors are still depending upon Ginnie Mae.’