Ginnie Mae Issued $53.5B in MBS in September

Ginnie Mae Issued $53.5B in MBS in September

October 15, 2019
Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled $63.44 billion in May
Last month was a September to remember at Ginnie Mae, which reported issuing $53.5 billion in mortgage-backed securities during the month. This resulted in financing for more than 207,000 homeowners and renters.
September’s issuance level was up from $52.4 billion in August and $47.1 billion in July. Last month’s issuance included $51.4 billion of Ginnie Mae II MBS and $2.02 billion of Ginnie Mae I MBS, of which $1.593 billion was allocated for loans related to multifamily housing.
Furthermore, Ginnie Mae added that its total outstanding principal balance of $2.093 trillion was an increase from the $2.008 trillion level recorded in September 2018.
Last week, Maren Kasper, the agency’s Executive Vice President and Chief Operations Officer who has served as Acting President since January, resigned. Kasper replaced Michael Bright, who served as Acting Executive Vice President following the resignation of Ted Tozer as Ginnie Mae President when President Trump took office.