The Government National Mortgage Association (GNMA) announced that it guaranteed more than $35.5 billion in mortgage-backed securities (MBS) in November. For the first 11 months of calendar 2009, Ginnie Mae provided nearly $407 billion of liquidity to the secondary market, compared to $246 billion for the first 11 months of 2008 said a statement.
"The strength of the Ginnie Mae MBS, coupled with the lower delinquency rates of the loans bundled into our securities, continues to play an important role in mortgage finance industry," said Mary K. Kinney, Ginnie Mae’s Executive Vice President. "Having a stable securitization vehicle that continues to generate a steady stream of liquidity for mortgage financing – at this point in the economic recovery – is absolutely critical."
Issuance for Ginnie Mae’s reverse mortgage product was $1.2 billion, up from $917 million in October. Volume for November is the second biggest month of HMBS issuance over the life of the program and brings YTD volume to $6.9 billion.
Total single-family issuance for November was nearly $ 35 billion. Ginnie Mae’s multifamily MBS issuance was nearly $838 million.
