Issuance for Ginnie Mae's mortgage-backed securities (MBS) program reached $27.3 billion in January, the company says. For fiscal year 2009, Ginnie Mae MBS issuance stands at $108.95 billion, compared to $43.3 billion for the first four months of fiscal year 2008.
‘Ginnie Mae was created to be there when the market needs it most and provide stability, and that is exactly what we are doing now," says Joseph J. Murin, president of Ginnie Mae. "Our steady increase in MBS issuance and recent actions by the [Obama] administration signal we are on the right path to help stabilize the financial industry and work through the housing downturn and credit crisis."
SOURCE: Ginnie Mae