Ginnie Mae has announced that it guaranteed more than $38.66 billion in mortgage-backed securities (MBS) in February. Issuance for Ginnie Mae II single-family pools led the way with more than $31.77 billion, while Ginnie Mae I single-family pools totaled nearly $6.88 billion. Issuance for the Ginnie Mae Home Equity Conversion Mortgage-Backed Security (HMBS), included in Ginnie Mae II single-family pools, was $695 million. Total single-family issuance for January was $36.62 billion. In addition, Ginnie Mae’s multifamily MBS issuance reached $2.03 billion for the month.
“It is clear that the housing finance industry is still trying to gain some measure of stability,” said Ginnie Mae President Ted Tozer. “Ginnie Mae was originally created to provide security and stability for the secondary market and today, it is clear, that we are still fulfilling that mission.”
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 insurance 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).