Ginnie Mae has announced that it guaranteed more than $36.44 billion in mortgage-backed securities (MBS) in March 2013. Issuance for the Ginnie Mae Home Equity Conversion Mortgage-Backed Security (HMBS), included in Ginnie Mae II single-family pools, was $889 million. Total single-family issuance for March was $34.18 billion. In addition, Ginnie Mae’s multifamily MBS issuance reached $2.26 billion for the month.
“The Ginnie Mae MBS continues to prove its value to the secondary mortgage market,” said Ginnie Mae President Ted Tozer. “Our issuers value the liquidity provided by our securities, and our investors value the execution of the Ginnie Mae MBS, backed by our full faith and credit guarantee issuance for Ginnie Mae II single-family pools led the way with more than $29.14 billion, while Ginnie Mae I single-family pools totaled nearly $5.04 billion.
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).