MBS issuances reached $70.04 billion, and the dollar amount reflects a greater number of families succeeding at homeownership.
Mortgage-backed securities (MBS) issued by Ginnie Mae in July totaled a corporate-wide record of $70.04 billion. This translates to financing for more than 261,000 homeowners and renters, the agency reported.
“As mortgage rates reached new all-time lows in July, and consumers moved to purchase new homes or refinance existing mortgages, Ginnie Mae was there to help them,” said Ginnie Mae Principal Executive Vice President Seth Appleton.
“The record-breaking MBS volume that we saw in July is measured in dollars, but it also is measured by the many households who were for the first time able to take hold of the American Dream of homeownership.”
Ginnie Mae’s breakdown of July issuance includes $66.16 billion of Ginnie Mae II MBS and $3.88 billion of Ginnie Mae I MBS, which includes $3.69 billion of loans for multifamily housing.
Ginnie Mae's total outstanding principal balance of $2.118 trillion is an increase from $2.080 trillion in July 2019.
Ginnie Mae'S MBS programs support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing, and the Department of Agriculture Rural Housing Service.
The Ginnie Mae Disclosure provides more information on monthly MBS issuance, unpaid principal balance, real estate mortgage investment conduit monthly issuance, and global market analysis.