Ginnie Mae posts highest monthly issuance in historyMortgagePres.comGovernment National Mortgage Association, Ginnie Mae, MBS, Joseph Murin
The Government National Mortgage Association (Ginnie Mae) has
announced that the corporation has reached a milestone in
mortgage-backed security (MBS) issuance, solidifying its role among
the key institutions providing liquidity to the housing finance
market. Ginnie Mae today disclosed that it has issued a record
$34.5 billion in MBS in March, bringing a total of $89.7 billion of
liquidity to market in 2009, versus $38.9 billion for the first
three months of 2008.
"As the housing market continues to find its footing, we're
proud to announce that Ginnie Mae continues to lead by example,"
said Joseph Murin, Ginnie Mae president. "Our issuance volume this
month, and for the year, represents our growing efforts to support
the housing market and struggling homeowners during these turbulent
times."
Ginnie Mae I single-family pools led the way with $28.2 billion
in MBS issuance; while our Ginnie Mae II single-family pools
totaled $5.9 billion. Total single-family issuance for March hit
$34.1 billion. Ginnie Mae's multifamily MBS issuance was steady at
$334 million.
Single-family MBS issuances by region:
• $10.8 billion from the South
• $8.7 billion from the West
• $6.5 billion from the Midwest
• $6.3 billion from the Mid-Atlantic • $1.6 billion
from the Southwest
• $2 million from Puerto Rico and the Virgin Islands
For the last 40 years, the industry has turned to the safety and
comfort of Ginnie Mae MBS because its securities carry the full
faith and credit backing of the United States Government. Ginnie
Mae has provided homeownership opportunities for more than 30
million households by securing government-insured or guaranteed
loans to the Federal Housing Administration, the Department of
Veterans Affairs, the Department of Agriculture's Rural Development
program, and the Department of Housing and Urban Development's
Office of Public and Indian Housing.
For more information, visit www.ginniemae.gov.
