Ginnie Mae guarantees top $26 billion in February
Ginnie Mae guaranteed more than $26.2 billion in mortgage-backed securities in February. The Government National Mortgage Association, or Ginnie Mae, guarantees timely payment of principal and interest on federally insured loans to MBS investors. Issuance for Ginnie Mae I single-family pools, which are single-issuer securities comprised of mortgages with the same interest rate, totaled $7.62 billion in February. Ginnie Mae II MBS single-family issuance aggregated more than $16.44 billion during the month. This type of security refers to multiple-issuer pools. The agency also guaranteed $891 million in HECM mortgage-backed securities. Of total guarantees in February, $24.96 billion was attributable to single-family issuance, while about $1.25 billion was attributable to multi-family securities. Ted Tozer, president of Ginnie Mae, said the firm continually plays a key role in supporting homeownership, as well as secondary investments. "As a leader within the housing finance industry, Ginnie Mae continues to provide critical liquidity to the secondary market," Tozer said. Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR.