Ginnie Mae guaranteed $39.08 billion in mortgaged-backed securities in September.
Issuance for Ginnie Mae I single-family pools, single-issuer securities including mortgages with the same interest rate, totaled more than $6.13 billion in September. Ginnie Mae II single-family pools, multiple issuer pools, totaled more than $31.1 billion. Issuance for Home Equity Conversion Mortgage-Backed Securities, which was incorporated in Ginnie Mae II single-family pools, totaled at $600 million.
For September, single-family insurance was $37.275 billion. It’s multifamily MBS issuance was more than $1.805 billion.
Ted Tozer, president of Ginnie Mae, said for the second month in a row, the firm’s issuance almost reached $40 billion, indicating that the housing market is still struggling.
“These are challenges that Ginnie Mae is well-equipped to handle in order to stabilize the secondary market and continue the flow of capital into the housing market,” he said.
Through MBS, Ginnie Mae finances housing mortgage programs run by the Federal Housing Administration, the Department of Veteran Affairs and the Department of Agriculture Rural Development Housing and Community Facilities Program.