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Ginnie Mae Reports MBS Issuance For December

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Ginnie Mae announced that issuance of its mortgage-back securities (MBS) was $54.74 billion in December, which provided financing for more than 214,999 homeowners and renters. 

Of the $54.74 billion, $2.56 billion—including $2.18 billion for multi-family housing—was Ginnie Mae I MBS with the remainder being Ginnie Mae II MBS. 

The reported outstanding principal balance is $2.11 trillion, which is an increase from December 2018’s $2.04 trillion. 

Issuances in Ginnie Mae I MBS for single-family housing in December 2019 were $380 million—more than double December 2018’s $148 million. 

Ginnie Mae announced the issuance of MBS for November 2019 totaling $56.09 billion. 

Between December 19 and December 24, the Federal Reserve bought $825 million of agency mortgage-backed securities, compared to $1.806 billion purchased the previous week, Reuters reports.

None of the mortgages purchased in the week and guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae have been sold, after it sold $200 million the previous week, according to the Federal Reserve Bank of New York.

The Fed has been using funds from principal payments on the agency debt and agency mortgage-backed securities, or MBS, it holds to reinvest in agency MBS since 2011.

About Author: Mike Albanese

Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville.

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