Home / Daily Dose / Ginnie Mae Provides MBS Issuance Update
Print This Post Print This Post

Ginnie Mae Provides MBS Issuance Update

Ginnie Mae has reported that its mortgage-backed securities (MBS) issuance volume for October 2021 stood at $69.36 billion, down from September’s issuance of approximately $73 billion. Ginnie Mae MBS issuance reflects the liquidity of the program and its value in meeting the mortgage needs of homebuyers and rental property owners. Approximately 253,996 homes and apartment units were financed by Ginnie Mae guaranteed MBS in October.

“The consistency and value of the Ginnie Mae MBS program for investors and issuers on behalf of America’s homeowners and renters is illustrated in these results,” said Ginnie Mae Acting EVP Michael Drayne. “Our attention to program details that make pooling loans, issuing securities and transmitting timely payments to security holders efficient and scalable for all stakeholders, ultimately benefits families across the country.”

A breakdown of Ginnie Mae’s October issuance of $69.36 billion includes $65.84 billion of Ginnie Mae II MBS and $3.52 billion of Ginnie Mae I MBS, which includes approximately $3.4 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance as of Sept 30 was $2.135 trillion, up from $2.126 trillion in the prior month, and up slightly from $2.114 trillion in October 2020.

Ginnie Mae also reported that it has passed through to investors a record $1 trillion in principal and interest payments in Fiscal Year 2021.

“The past fiscal year broke MBS issuance and investor payment records,” said Ginnie Mae Office of Securities Operations SVP John Daugherty. “Through continuous attention to maintaining and upgrading the operations infrastructure of the MBS program, Ginnie Mae and its business partners were able to keep money flowing between investors and homeowners and renters and help stabilize the economy during a national emergency.”

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

Check Also

Government Agencies Work together to ‘Decarbonize the Building Sector’

The least affordable markets were Anaheim and San Francisco, where homebuyers with the typical local income would’ve needed to spend over 80% of their pay on monthly housing costs. Detroit and Pittsburgh were the most affordable.