The Government National Mortgage Association said it guaranteed $27.8 billion in mortgage backed securities in August.
Lenders issued more than $15.1 billion of Ginnie Mae II single family pools and $7.67 billion Ginnie Mae I single-family pools, with the latest issuance also showing a 13% month-over-month decline for HECM Mortgage Backed Securities (HMBS).
Ginnie Mae HMBS issuance showed a steady increase over the previous months, but posted $844 million in HMBS in August, a $125 million decrease from its July total of $969 million. The issuance has rallied throughout the year, with August’s decrease marking its first decline since May.
Written by Elizabeth Ecker