- DSNews - https://dsnews.com -

Ginnie Mae Reports MBS Issuance For December

home equity

Ginnie Mae announced [1]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 [2]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. [3]

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 [4].

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.