Ginnie Mae MBS issuance tops $26 billion in April
Ginnie Mae guaranteed more than $26.4 billion in mortgage-backed securities in April. That's up from $24.1 billion in guarantees for March and similar to the February numbers of $26.2 billion. "The continuing demand for our MBS is proof that Ginnie Mae has served taxpayers well by supporting the economy in extraordinary ways," said Ginnie Mae President Ted Tozer. "Issuance activity during the housing crisis has helped the administration’s housing stability efforts by pumping about $1.1 trillion in liquidity into the U.S. housing mortgage finance market." Ginnie Mae raises capital from investors in the global credit markets to ensure liquidity for affordable rental and homeownership opportunities. Ginnie guarantees the principal and interest payments to investors of MBS. The Federal Housing Administration or the Department of Veterans Affairs usually insure the underlying loans. Issuance for Ginnie Mae II single-family pools totaled more than $17.85 billion in April. Issuance for the Ginnie Mae I single-family pools topped $5.91 billion and issuance for the HECM MBS was more than $1 billion. Total single-family issuance for April was more than $24.79 billion. Ginnie Mae’s multifamily MBS issuance was more than $1.6 billion. Write to Kerry Curry. Follow her on Twitter @communictorKLC.