According to a recent announcement from researchers at Ginnie Mae, a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and homeowners throughout the country, the sum of the issuance of its mortgage-backed securities (MBS) reached an all-time high for the agency in August.
Specifically, the issuance of its MBS totaled an impressive $77.62 billion during the month August. This translates to the provision of financing for more than 281,000 homeowners and renters across the nation. A more detailed look at the specifics of the month of August’s issuance breakdown reveals $73.25 billion of Ginnie Mae II MBS and $4.38 billion of Ginnie Mae I MBS (including $4.11 billion of loans marked for housing for multifamily personnel).
Ginnie Mae also reveled its total outstanding principal balance, which is $2.121 trillion. This rose from its outstanding principal balance this same time last year (August 2019), which was $2.087 trillion.
Ginnie Mae Executive Vice President and Chief Operating Officer Eric Blankenstein commented on what these numbers reflect regarding the market today: "The interest rate environment continued to be favorable for consumers purchasing and refinancing homes and for investors in affordable multifamily housing in August, demonstrated by the record-breaking volume of new Ginnie Mae MBS issuance in the month.”
Blankenstein added: "Mortgage lenders across America are finding the Ginnie Mae program to be the reliable and flexible source of capital they need to help make housing affordable for hundreds of thousands of families each month."
This report reveals the highlights of the announcement that was just released from Ginnie Mae. However, if you are seeking more detailed information regarding everything from monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis, you may visit Ginnie Mae Disclosure.