In an announcement Wednesday, the ""Government National Mortgage Association"":http://www.ginniemae.gov/ (Ginnie Mae) said it guaranteed more than $38.1 billion in mortgage-backed securities in January.
[IMAGE] [COLUMN_BREAK]The corporation also reported a notable decrease in seriously-delinquuent single-family loans. Compared to 3.4 percent in January 2009, the the number of loans 90-days or more delinquent in Ginnie Mae-guaranteed securities fell to 2.35 percent in January 2010.
Total single-family issuance for December was more than $37 billion. With more than $22 billion in MBS issuance, Ginnie Mae II single-family pools led the way, and Ginnie Mae I single-family pools totaled more than $15 billion. Issuance for the Ginnie Mae home equity mortgage-backed security (HMBS) was $811 million, and Ginnie Mae's multifamily MBS issuance was more than $843 million.
According to the association, the industry has continued to turn to the safety and security of Ginnie Mae MBS for the last 40 years. This, Ginnie Mae said, has allowed it to provide homeownership opportunities for more than 30 million households by securitizing loans insured or guaranteed by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Agriculture's Rural Development, and HUD's Office of Public and Indian Housing.