Ginnie Mae [1]’s outstanding mortgage-backed securities portfolio grew for the 13th consecutive month in July [2], hitting $2.252 trillion, up from $2.229 trillion in June and $2.117 trillion one year ago. Growth in the portfolio was fueled by steady new issuance of Ginnie Mae MBS as homeowners found value in the government-backed mortgage market. New MBS issuance for July was $45.5 billion –down $500 million from June– supporting the financing of more than 155,000 single-family homes and rental units.
The July issuance includes $43 billion of Ginnie Mae II MBS and $2.01 billion of Ginnie Mae I MBS, which includes approximately $1.85 billion of loans for multifamily housing.
“As Ginnie Mae celebrates 54 years of being a consistent source of low-cost mortgage liquidity, we continue to see steady growth in our portfolio even in a changing and very dynamic housing market,” said Ginnie Mae Executive VP Sam Valverde.
The decision comes after Ginnie Mae guaranteed more than $46 billion in mortgage-backed securities in June [3], helping support affordable homeownership and rental unit development for more than 164,000 households. The June issuance brought the Ginnie Mae MBS program balance outstanding to $2.233 trillion.
For more information on monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis, visit the most recent Ginnie Mae Disclosure here [2].