Issuance of Ginnie Mae Reverse Mortgage MBS Drops in January

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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.

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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.

Chart: Ginnie Mae 12 months

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Ginnie Mae 12 months

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  • Relating this back to the article on the number of “applications” noted by HUD for January, this looks to be what would be expected if the “applications” were applications for endorsement and not applications taken prior to obtaining case numbers.

  • Relating this back to the article on the number of “applications” noted by HUD for January, this looks to be what would be expected if the “applications” were applications for endorsement and not applications taken prior to obtaining case numbers.

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