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The ""Government National Mortgage Association"":http://www.ginniemae.gov/index.asp (Ginnie Mae) recently announced that it guaranteed more than $32.6 billion in mortgage-backed securities (MBS) in April.
[IMAGE]In addition, the Washington, D.C.-based association reported a decline in the number of single-family loans in Ginnie Mae-guaranteed securities that were 90-days or more delinquent. According to Ginnie Mae, the delinquency rate fell to 1.85 percent in March, down from 2.02 percent in February.
Total single-family issuance for April was more than $31.5 billion. Ginnie Mae II single-family pools led the way with
[COLUMN_BREAK]more than $18.9 billion in MBS issuance, while Ginnie Mae I single-family pools totaled $12.6 billion.
Additionally, Ginnie Mae's multifamily MBS issuance was more than $1 billion, marking the second time so far this year that multifamily issuance has crossed the $1 billion threshold.
""As we all know, these past few years have been most challenging for the housing market. Without missing a beat, Ginnie Mae has stepped up when the private sector couldn't to ensure millions of consumers had access to 30-year, fixed-rate mortgages."" said Theodore Tozer, Ginnie Mae president. ""This is evident in strong MBS issuances throughout the tough economic environment. It is our mission to infuse capital into the secondary market to help bring about a recovery.""
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 Americans 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.rurdev.usda.gov/Home.html, and ""HUD's office of Public and Indian Housing."":http://portal.hud.gov/portal/page/portal/HUD/program_offices/public_indian_housing
