Ginnie Guarantees $33.4bn of MBS in June
The Government National Mortgage Association -- or Ginnie Mae -- guaranteed more than $33.4bn of mortgage backed securities (MBS) in June. Issuance for Ginnie Mae II single-family pools totaled nearly $20.1bn, while Ginnie Mae I single-family pools were $12.3bn, according to a statement. Total single-family issuance was $32.4bn, while multifamily MBS issuance was just over $1bn. "Ginnie Mae is continuing to provide liquidity to the housing finance market while protecting the American taxpayer and the interests of our investors," said Ginnie president Theodore Tozer. "We are anticipating the needs of the market, issuers and investors, I am proud to say this translates into helping to sustain homeownership and rental housing for millions of families across the country." According to information provided to HousingWire by Ginnie Mae, total guaranteed MBS issuance is up to $306.9bn in the first three quarters of fiscal year (FY) 2010. This builds on growing issuance at Ginnie, to $418.9bn in FY 2009, from $220.6bn in FY 2008 and $85.1bn in FY 2007. Write to Diana Golobay.