Issuance of Ginnie Mae Reverse Mortgage MBS Drops in January
February 28th, 2010 | by John Yedinak Published in GNMA, News, Reverse Mortgage | 2 Comments
The Government National Mortgage Association (Ginnie Mae) announced that it guaranteed more than $38.1 billion in mortgage-backed securities (MBS) in January. The corporation also reported that in January, 2.35 percent of the Single-Family loans in Ginnie Mae guaranteed securities were 90-days or more delinquent, down significantly from 3.40 percent in January 2009.
Ginnie Mae II single-family pools led the way with more than $22 billion in MBS issuance, while Ginnie Mae I single-family pools totaled more than $15 billion.
Issuance for the Ginnie Mae’s reverse mortgage security (HMBS) was $811 million, down 49% from December 2009.
Total single- family issuance for December was more than $ 37 billion. Ginnie Mae’s multifamily MBS issuance was more than $843 million.
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