MortgageReverse

Ginnie Mae Reverse Mortgage Issuance Sets Record in June

image The Government National Mortgage Association (Ginnie Mae) announced that it issued more than $43 billion in mortgage-backed securities (MBS) in June. For the first six months of calendar year 2009, Ginnie Mae provided nearly $207 billion of liquidity to the secondary market, compared to nearly $107 billion for the first six months of 2008.

"The extraordinary strength of our MBS program clearly demonstrates the continuing need for Ginnie Mae securities in the secondary market," said Joseph Murin, Ginnie Mae president. "Ginnie Mae’s ability to provide a safe security for investors and critical liquidity for issuers is why the corporation was created more than 40 years ago."

Ginnie Mae’s HECM MBS program also set a record in June, issuing $590 million HMBS, smashing its previous record of $262 million in May 2009.

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