The ""Government National Mortgage Association"":http://www.ginniemae.gov/ (Ginnie Mae) announced Tuesday that it guaranteed $22.7 billion in mortgage-backed securities (MBS) in March.
[IMAGE]Total single-family issuance for March was more than $22 billion. Ginnie Mae II single-family pools led the way with nearly $14 billion in issuance, while Ginnie Mae I single-
[COLUMN_BREAK]family pools totaled nearly $8 billion. In addition, Ginnie Mae's multifamily MBS issuance was nearly $828 million.
""The robust performance of the Ginnie Mae MBS continues to provide strong support for a still struggling economy,"" said Theodore Tozer, Ginnie Mae president. ""The dependable execution of the Ginnie Mae MBS in the secondary market is vital as our issuers work with overburdened homeowners towards building sustainable affordable housing despite the current economy.""
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 millions of American households by securitizing loans insured or guaranteed by the ""Federal Housing Administration"":http://portal.hud.gov/portal/page/portal/HUD/federal_housing_administration, the ""Department of Veterans Affairs"":http://www.va.gov/, the ""Department of Agriculture's Rural Development"":http://www.dardni.gov.uk/, and ""HUD's Office of Public and Indian Housing."":http://portal.hud.gov/portal/page/portal/HUD/program_offices/public_indian_housing