NAMB’s strategic withdrawal of legal action against FHFA

Ginnie Mae mortgage-backed securities continue to surge MortgagePress.comGinnie Mae, mortgage-backed securities, Joseph Murin The Government National Mortgage Association (Ginnie Mae) has announced that the corporation posted $34.5 billion in total mortgage-backed securities (MBS) issuance in April. For the first four months of calendar year 2009, Ginnie Mae provided $124.18 billion of liquidity to the secondary market, compared to $58 billion for the first four months of 2008. "We are stable, secure, and steadily growing," said Joseph Murin, Ginnie Mae president. "Our issuance growth represents the trust our issuers and investors continue to have in Ginnie Mae securities. Providing a secure secondary market outlet for government-backed loans is absolutely critical as the economy continues to stabilize." Ginnie Mae I single-family pools led the way with more than $26 billion in MBS issuance, while Ginnie Mae II single-family pools totaled nearly $7 billion. Total single-family issuance for April soared past $33 billion. Ginnie Mae's multifamily MBS issuance was over $707 million. 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.