The number of single family loans delinquent more than 90 days fell to 1.79% during April according to the Government National Mortgage Association (Ginnie Mae). The numbers are down from from 1.85% in March.
Ginnie Mae guaranteed more than $33.9 billion in mortgage-backed securities (MBS) in May.
“Ginnie Mae continues to fill the void in the mortgage finance arena that was left by the exit of the private sector and contraction of the GSEs,” said Theodore Tozer, Ginnie Mae president. “As a leader within the housing finance industry, it is our mission to continue managing our operations to support the increase in issuer and investor demand in Ginnie Mae securities.”
Reverse mortgage lenders issued $686 million of f HMBS (reverse mortgage MBS) during the month, down from $871 in April. Issuance for Ginnie Mae II single-family pools totaled more than $19.8 billion, while Ginnie Mae I single-family pools were $13 billion. Total single-family issuance for May was more than $32.8 billion. Ginnie Mae’s multifamily MBS issuance was more than $1.1 billion.