Ginnie Mae MBS Outstanding Rises to $2.142 Trillion in March
April 9, 2020
Ginnie Mae has announced that issuance of its mortgage-backed securities (MBS) totaled $55.21 billion in March, providing financing for more than 211,000 homeowners and renters. In February, Ginnie Mae's issuance of MBS totaled $52.64 billion, a month-over-month increase of $2.57 billion.
A breakdown of March issuance includes $52.51 billion of Ginnie Mae II MBS and $2.69 billion of Ginnie Mae I MBS, which includes $2.23 billion of loans for multifamily housing. Ginnie Mae's total outstanding principal balance of $2.142 trillion is an increase from $2.058 trillion in March 2019.
“The Ginnie Mae MBS program is working for America’s families, facilitating an average of $55 billion in mortgage capital in each of the past eight months,” said Ginnie Mae Principal Executive Vice President Seth Appleton. “That consistency is an illustration of the reliability of our technology infrastructure, especially now as our staff and that of many of our business partners rely on remote connectivity to keep money flowing to our nation’s mortgage borrowers.”
Earlier this week, Ginnie Mae announced that in order to ease the burden on mortgage servicers due to unprecedented forbearance requests, it approved the inclusion of a servicing advance financing facility under its Acknowledgment Agreement program.
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