Ginnie Mae Issued Record MBS Volume In FY2021

The Government National Mortgage Association (Ginnie Mae) issued a record $939 billion in mortgage-backed securities (MBS) during fiscal year 2021, the association said today.

That included approximately $73 billion issued during September, the association said in a news release.

The record MBS issuance “reflects the strength and value of the Ginnie Mae program in meeting the mortgage needs of homebuyers and rental property owners,” it said in the release. Approximately 263,061 homes and apartment units were financed by Ginnie Mae guaranteed MBS in September, it said.

“It has been a remarkable year for the Ginnie Mae MBS program,” said Ginnie Mae Acting Executive Vice President Michael Drayne. “Our robust and flexible business platform enabled Ginnie Mae to attract record amounts of investment capital from around the world to finance affordable homeownership and rental housing for families across the country.”

The September 2021 issuance of $72.88 billion included $69.26 billion of Ginnie Mae II MBS and $3.63 billion of Ginnie Mae I MBS, which in turn includes approximately $3.5 billion of loans for multifamily housing, the association reported.

Ginnie Mae's total outstanding principal balance as of Sept. 30 was $2.130 trillion, up from $2.124 trillion in August and up slightly from $2.117 trillion in September 2020.

Ginnie Mae is a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. 

Its MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing, and the Department of Agriculture’s Rural Housing Service.