Ginnie Mae says that issuance for its mortgage-backed securities (MBS) program hit $27.1 billion in November.
November is the second consecutive month in which Ginnie Mae MBS issuances surpassed government-sponsored enterprises Fannie Mae and Freddie Mac. For calendar year 2008, Ginnie Mae MBS issuances stand at $246 billion – compared to $81.6 billion for the first 11 months of 2007.
‘Ginnie Mae has consistently provided liquidity to the market, and it is no surprise that our November MBS issuances were strong,’ says Joseph J. Murin, president of Ginnie Mae. ‘It is further proof that Ginnie Mae is continuing to thrive and provide stability.’
Source: Ginnie Mae