Ginnie Mae has announced that it has guaranteed more than $25.4 billion in mortgage-backed securities (MBS) in May. Issuance for Ginnie Mae II single-family pools totaled over $17.53 billion in May. Issuance for the Ginnie Mae I single-family pools topped $5.54 billion and issuance for the HECM MBS (HMBS) was more than $771 million in May. Total single-family issuance for May was more than $23.85 billion. Ginnie Mae’s multifamily MBS issuance was over $1.57 billion.
“The consistent performance of the Ginnie Mae MBS over the last several months has been very important to the secondary market as the economy continues to rebound,” said Ginnie Mae President Ted Tozer. “Issuers depend upon the strong pricing and execution of the Ginnie Mae MBS as a way to maintain the flow of capital for new mortgage loans, and investors depend upon the security of guaranteed timely interest and principal payments.”
Ginnie Mae raises capital from investors in the global credit markets to ensure liquidity for affordable rental and homeownership opportunities across the country. Through its MBS, Ginnie Mae finances housing mortgage programs run by the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), the Office of Public and Indian Housing (PIH), and the Department of Agriculture’s Rural Development Housing and Community Facilities Program (RD).