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GNMANewsReverse Mortgage

Ginne Mae Issuance of Reverse Mortgage Securities Holds Steady

image The Government National Mortgage Association (Ginnie Mae) announced earlier this week that it issued $34.5 billion in total mortgage-backed securities (MBS) in April. For the first four months of calendar year 2009, Ginnie Mae provided $124.18 billion of liquidity to the secondary market, compared to $58 billion for the first four months of 2008.

"We are stable, secure, and steadily growing," said Joseph Murin, Ginnie Mae president. "Our issuance growth represents the trust our issuers and investors continue to have in Ginnie Mae securities. Providing a secure secondary market outlet for government-backed loans is absolutely critical as the economy continues to stabilize."

Ginnie Mae I single-family pools led the way with more than $26 billion in MBS issuance, while Ginnie Mae II single-family pools totaled nearly $7 billion. Total single-family issuance for April soared past $33 billion. Ginnie Mae’s multifamily MBS issuance was over $707 million

In April, GNMA issued $124 Million of HECM MBS securities, which brings the total to $437 million in 2009. 

Ginnie Mae Mortgage-Backed Securities Continue to Surge