Ginnie Mae Guarantees $871 Million of HMBS in April

The Government National Mortgage Association (Ginnie Mae) guaranteed $871 million of reverse mortgage backed securities (HMBS) in April.

“As we all know, these past few years have been most challenging for the housing market. Without missing a beat, Ginnie Mae has stepped up when the private sector couldn’t to ensure millions of consumers had access to 30-year, fixed-rate mortgages.” said Theodore Tozer, Ginnie Mae president. “This is evident in strong MBS issuances throughout the tough economic environment. It is our mission to infuse capital into the secondary market to help bring about a recovery.”

Total issuance during April was $32.6 billion in mortgage-backed securities (MBS).  Issuance for Ginnie Mae II single-family pools totaled more than $18.9 billion, while Ginnie Mae I single-family pools were $12.6 billion. Total single-family issuance for April was more than $31.5 billion.

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Additionally, Ginnie Mae reported that in March, 1.85 percent of the single-family loans in Ginnie Mae guaranteed securities were 90-days or more delinquent, down from 2.02 percent in February 2010.

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Ginnie Mae 12 months

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  • The highest volume in HMBS was last December for good reason. It no doubt reflects the increased origination which transpired before the principal limit reduction took effect October 1. If HMBS securitization occurs following endorsement, the trend should stay down for some time.

  • The highest volume in HMBS was last December for good reason. It no doubt reflects the increased origination which transpired before the principal limit reduction took effect October 1. If HMBS securitization occurs following endorsement, the trend should stay down for some time.

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