The Government National Mortgage Association (Ginnie Mae) guaranteed more than $34 billion in mortgage backed seuritites (MBS) in August.

Issuance for Ginnie Mae II single-family pools totaled slightly more than $21 billion, while Ginnie Mae I single family issuance was more than $10.9 billion and issuance for the Ginnie Mae HECM Mortgage Backed Security (HMBS) was more than $994 million in August, bringing total single-family issuance for August to $32.9 billion.

Ginnie Mae’s multifamily MBS continued at a strong pace in August with issuance of more than $1.3 billion.

“While the economy is slowly showing signs of recovery, much of this improvement would not be possible without the stabilizing effect of the Ginnie Mae MBS,” said Theodore Tozer, Ginnie Mae president. “The Ginnie Mae guaranty tells investors that their principal and interest payments are backed by the full faith and credit of the U.S. government.”