The ""Government National Mortgage Association"":http://www.ginniemae.gov/(Ginnie Mae) guaranteed more than $29.3 billion in mortgage-backed securities (MBS) in February, the corporation announced Monday.
[IMAGE]Total single-family issuance for February was more than $28 billion. Ginnie Mae II single-family pools led the way
[COLUMN_BREAK]with nearly $18 billion in MBS issuance, while Ginnie Mae I single-family pools totaled nearly $11 billion. Additionally, Ginnie Mae's multifamily MBS issuance was more than $730 million.
""It is clear to everyone in the secondary market that Ginnie Mae plays a crucial role in our broader efforts to get America's housing market and economy on the path to recovery."" said Theodore Tozer, Ginnie Mae president. ""Our issuance volume represents the value of Ginnie Mae in support of the housing finance industry and struggling homeowners during these turbulent times.""
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.