Home / Daily Dose / Record-Breaking Month for Mortgage-Backed Securities at Ginnie Mae
Print This Post Print This Post

Record-Breaking Month for Mortgage-Backed Securities at Ginnie Mae

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.

About Author: Christina Hughes Babb

Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Contact Christina at christina.hughesbabb@thefivestar.com.

Check Also

Enhancements Announced for Ginnie Mae’s Digital Collateral Program and eGuide

Program augmentations will bring efficiency to the mortgage process, and improve access for borrowers who are not well served by the traditional lending approach.

Your Daily Dose of DS News

Get the news you need, when you need it. Subscribe to the Daily Dose of DS News to receive each day’s most important default servicing news and market information, absolutely free of charge.