The Government National Mortgage Association (Ginnie Mae) has announced that the corporation has reached a milestone in mortgage-backed security (MBS) issuance, solidifying its role among the key institutions providing liquidity to the housing finance market. Ginnie Mae today disclosed that it has issued a record $34.5 billion in MBS in March, bringing a total of $89.7 billion of liquidity to market in 2009, versus $38.9 billion for the first three months of 2008.
"As the housing market continues to find its footing, we're proud to announce that Ginnie Mae continues to lead by example," said Joseph Murin, Ginnie Mae president. "Our issuance volume this month, and for the year, represents our growing efforts to support the housing market and struggling homeowners during these turbulent times."
Ginnie Mae I single-family pools led the way with $28.2 billion in MBS issuance; while our Ginnie Mae II single-family pools totaled $5.9 billion. Total single-family issuance for March hit $34.1 billion. Ginnie Mae's multifamily MBS issuance was steady at $334 million.
Single-family MBS issuances by region:
• $10.8 billion from the South
• $8.7 billion from the West
• $6.5 billion from the Midwest
• $6.3 billion from the Mid-Atlantic • $1.6 billion from the Southwest
• $2 million from Puerto Rico and the Virgin Islands
For the last 40 years, the industry has turned to the safety and comfort of Ginnie Mae MBS because its securities carry the full faith and credit backing of the United States Government. Ginnie Mae has provided homeownership opportunities for more than 30 million households by securing government-insured or guaranteed loans to the Federal Housing Administration, the Department of Veterans Affairs, the Department of Agriculture's Rural Development program, and the Department of Housing and Urban Development's Office of Public and Indian Housing.
For more information, visit www.ginniemae.gov.