Ginnie Mae announced that it guaranteed more than $39.13 billion in mortgage-backed securities (MBS) in July 2013.
“Ginnie Mae continues to provide leadership to the U.S. housing market,” said Ginnie Mae President Ted Tozer. “Highlighted by the strong performance of our MBS issuance programs, we remain focused on providing liquidity and stability to the secondary mortgage industry.”
More than $33.6 billion in Ginnie Mae II single-family pools were issued in July, while Ginnie Mae I single-family pools totaled nearly $3.37 billion. Issuance for the Ginnie Mae Home Equity Conversion Mortgage-Backed Securities (HMBS), included in Ginnie Mae II single-family pools, was $796 million. Total single-family issuance for July was $36.96 billion. In addition, Ginnie Mae’s multifamily MBS issuance reached $2.16 billion for the month.
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 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).