For the month if May 2021, Ginnie Mae mortgage-backed securities (MBS) issuance volume stood at $77.63 billion, the 10th consecutive month issuance exceeded $75 billion. Ginnie Mae MBS issuance illustrates the liquidity of the program and its value in meeting the mortgage needs of homebuyers and rental property owners. Approximately 288,158 homes and apartment units were financed by Ginnie Mae guaranteed MBS in May.
Ginnie Mae reported record MBS issuance in April 2021, with MBS volume hitting $89.70 billion.
“The consistency and utility of the Ginnie Mae MBS program are demonstrated every day by Issuers and investors who choose the security in a competitive marketplace,” said Ginnie Mae Acting EVP Michael Drayne. “Our commitment to maintain a strong and flexible MBS program that produces the types of securities investors demand is the foundation of Ginnie Mae’s ability to finance affordable homeownership and rental housing.”
A breakdown of May issuance of $77.63 billion includes $72.83 billion of Ginnie Mae II MBS and $4.80 billion of Ginnie Mae I MBS, which includes $4.70 billion of loans for multifamily housing. Ginnie Mae's total outstanding principal balance as of May 31 was $2.118 trillion, up from $2.105 trillion in April, and down from the May 2020 level of $2.149 trillion.
Ginnie Mae continues to assist struggling homeowners nationwide, as the Mortgage Bankers Association (MBA) reported earlier this week that approximately 2.1 million U.S. homeowners remain in forbearance plans. Of that total, 4.16% of overall volume are in forbearance plans, with Ginnie Mae loans encompassing a 5.54% share of total forbearances.