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Ginnie Mae MBS Issuance Surpasses $62 Billion

Ginnie Mae has released its January 2022 issuance volume, maintaining the strong liquidity of the program, and its value in meeting the financing needs of homeowners and rental property owners. An estimated 230,000 homes and apartment units were financed by Ginnie Mae and guaranteed mortgage-backed securities (MBS) in January. Ginnie Mae MBS issuance volume for January 2022 was $62.98 billion, almost a 6% decline from the December 2021 issuance of $66.84 billion. 

“The Ginnie Mae MBS program began 2022 strong and stable, as issuers financed more than 230,000 homes through sale of MBS to investors around the world,” said Ginnie Mae President Alanna McCargo. “In January, Ginnie Mae also saw growing interest from issuers and investors for the Extended Term MBS, a new pooling option available to support homeowners exiting forbearance with more affordable loan modifications as they recover from the economic effects of the pandemic.” 

Current numbers have fallen short of the prior year, where approximately 242,793 homes and apartment units were financed in December of 2021. Ginnie Mae issued a new memorandum around the same time last year, with goals of assisting homeowners impacted by the pandemic toward economic recovery by creating a more efficient process so servicers can help more homeowners transition from forbearance to permanent modification.     

In comparison, a breakdown of December 2021 issuance of $66.84 billion included: 

  • $62.31 billion of those dollars for Ginnie Mae’s II MBS 
  • $4.53 billion of Ginnie Mae I MBS 
  • Approximately $4.3 billion of loans for multifamily housing 

A breakdown of January 2022 issuance of nearly $63 billion includes:   

  • $60.19 billion of Ginnie Mae II MBS  
  • $2.79 billion of Ginnie Mae I MBS  
  • Approximately $2.63 billion in loans for multifamily housing 

At the end of January, Ginnie Mae's total outstanding principal balance was $2.168 trillion, up from $2.149 trillion in the prior month—and up from $2.109 trillion in January 2021. For more information on monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis, click here. 

About Author: Demetria Lester

Demetria C. Lester is a reporter for DS News and MReport magazines with more than eight years of writing experience. She has served as content coordinator and copy editor for the Los Angeles Daily News and the Orange County Register, in addition to 11 other Southern California publications. A former editor-in-chief at Northlake College and staff writer at her alma mater, the University of Texas at Arlington, she has covered events such as the Byron Nelson and Pac-12 Conferences, progressing into her freelance work with the Dallas Wings and D Magazine. Currently located in Dallas, Texas, Lester is an avid jazz lover and likes to read. She can be reached at [email protected].

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