Ginnie Mae has announced that it had guaranteed more than $34 billion in mortgage-backed securities (MBS) in August. Issuance for Ginnie Mae II single-family pools totaled slightly more than $21 billion. Ginnie Mae I single family issuance was more than $10.9 billion and issuance for the Ginnie Mae HECM Mortgage Backed Security (HMBS) was more than $994 million in August, bringing total single-family issuance for August to $32.9 billion. Ginnie Mae’s multifamily MBS continued at a strong pace in August with issuance of more than $1.3 billion.
“While the economy is slowly showing signs of recovery, much of this improvement would not be possible without the stabilizing effect of the Ginnie Mae MBS,” said Theodore Tozer, Ginnie Mae president. “The Ginnie Mae guaranty tells investors that their principal and interest payments are backed by the full faith and credit of the U.S. government.”
For more than 40 years, the industry has turned to the security of the Ginnie Mae MBS, allowing Ginnie Mae to provide homeownership opportunities for millions of Americans. Ginnie Mae securitizes loans insured or guaranteed by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Agriculture’s Rural Development and the Department of Housing and Urban Development's Office of Public and Indian Housing.
For more information, visit www.ginniemae.gov.