Ginnie Mae MBS Issuances Reaches $27.9 Billion: Government Corporation continues to show strength in secondary marketMortgagePress.comGinnie Mae, MBS, Mortgage-Backed Securities, Joseph J. Murin
The Government National Mortgage Association (Ginnie Mae) has
announced that total issuance for its Mortgage-Backed Securities
(MBS) program reached $27.9 billion in February 2009. Ginnie Mae
guaranteed $27.5 single-family MBS and $379 million multifamily
MBS. For Fiscal Year 2009, Ginnie Mae MBS issuance stands at $135.9
billion, compared to $55.2 for the first five months of FY
2008.
Single-family MBS issuances by region:
• $7.3 billion from the West
• $5.1 billion from the Midwest
• $5.2 billion from the Mid-Atlantic
• $8.4 billion from the South
• $1.3 billion from the Southwest
• $0.2 billion from Puerto Rico and the Virgin Islands
"Ginnie Mae's continued market strength is a clear indication
that we are still providing stability to the housing finance
industry," said Joseph J. Murin, president of Ginnie Mae.. "We are
in unprecedented economic territory now and the industry needs a
safer haven for investments, it is evident that Ginnie Mae is that
safer haven and will continue to provide liquidity as the
Administration works through this crisis."
For the last 40 years, the industry has turned to the safety and
security of Ginnie Mae MBS because it has the full faith and credit
backing of the United States Government. As a result, Ginnie Mae's
commitment to its mission has remained constant. This has allowed
Ginnie Mae to provide homeownership opportunities for more than 30
million households by securitizing loans insured or guaranteed by
the Federal Housing Administration (FHA), the Department of
Veterans Affairs (VA), the Department of Agriculture's (USDA) Rural
Development and the Department of Housing and Urban Development's
Office of Public and Indian Housing (PIH).
For more information, visit www.ginniemae.gov.
