Ginnie Mae has announced that it has guaranteed more than $41.21 billion in mortgage-backed securities (MBS) in December 2012. “Ginnie Mae has proven to be essential to the health of the housing finance market,” said Ginnie Mae President Ted Tozer. “Ginnie Mae’s MBS are a dependable source of liquidity for lenders who originate government-backed mortgage loans and for investors who rely on our guarantee.”
Issuance for Ginnie Mae II single-family pools led the way with more than $33.62 billion, while Ginnie Mae I single-family pools totaled nearly $4.09 billion. Issuance for the Ginnie Mae Home Equity Conversion Mortgage-Backed Security (HMBS), included in Ginnie Mae II single-family pools, was $738 million. Total single-family issuance for December was $37.71 billion. In addition, Ginnie Mae’s multifamily MBS issuance reached $3.49 billion for the month.
Ginnie Mae raises capital from investors in the global credit markets to ensure liquidity for affordable rental and homeownership opportunities across the country. Through its MBS, Ginnie Mae finances housing mortgage insurance programs run by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Office of Public and Indian Housing (PIH), and the Department of Agriculture’s Rural Development Housing and Community Facilities Program (RD).
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