Skip to main content

Ginnie Mae MBS continue to stabilize secondary market

NationalMortgageProfessional.com
Nov 05, 2009

The Government National Mortgage Association (Ginnie Mae) has announced that it guaranteed more than $38.6 billion in mortgage-backed securities (MBS) in October. For the first 10 months of calendar 2009, Ginnie Mae provided nearly $376 billion of liquidity to the secondary market, compared to $219 billion for the first 10 months of 2008. Ginnie Mae also reported that in September, 3.48 percent of the single-family loans in Ginnie Mae-guaranteed securities were 90-days or more delinquent, down slightly from 3.70 percent in August and down from the 3.59 percent in December 2008. "Ginnie Mae--whose securities carry the full faith and credit of the U.S. government--has been quick to modify and create securitization products that provide additional liquidity to help stabilize the U.S. housing market," said Thomas R. Weakland, Ginnie Mae's acting executive vice president. "And for the past 11 months we've consistently shown--with industry-wide low single-family delinquency rates--that our conservative approach to risk-taking is working for U.S. taxpayers." Ginnie Mae II single-family pools led the way with nearly $20 billion in MBS issuance, while Ginnie Mae I single-family pools totaled more than $18 billion. Total single-family issuance for October was nearly $ 38 billion. Ginnie Mae's multifamily MBS issuance was nearly $828 million. For the last 40 years, the industry has turned to the safety and security of Ginnie Mae MBS. 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 U.S. Department of Agriculture's (USDA) Rural Development and the U.S. Department of Housing & Urban Development's (HUD) Office of Public and Indian Housing (PIH). For more information, visit www.ginniemae.gov. For moe in
Published
Nov 05, 2009
Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

Industry News
Jan 26, 2023
There’s Good & Bad News On The Horizon

There will be a real estate slump, but the big cities are coming out much better

Industry News
Jan 26, 2023
Housing Prices Across Texas Likely Hobbled In 2023

But you’re getting a lot less for $1 million

Industry News
Jan 23, 2023
UWM Adds 'Control Your Price' To 'Game On' Pricing

New program provides 125 basis points in price enhancements for loan orignators.

Industry News
Jan 11, 2023
Rocket Pro TPO Relieves Brokers Of Credit Fee Burden

Will provided free credit reports to brokers if they get their loan closed with the Detroit lender.

Industry News
Jan 10, 2023
Former Employees Sue Rocket Mortgage Over OT Pay

Claim company failed to properly calculate & pay OT for working beyond 40 hours a week.

Operations
Jan 09, 2023