Washington, D.C. – Ginnie Mae announced today that it guaranteed more than $41.28 billion in mortgage-backed securities (MBS) in November 2012.
“Clearly, the economy is recovering, said Ginnie Mae President Ted Tozer. “However, it is also clear, with more than $41 billion in guarantees in November, that the housing finance industry still needs the support that the Ginnie Mae MBS can provide.”
Issuance for Ginnie Mae II single-family pools led the way with more than $33.97, while Ginnie Mae I single-family pools totaled nearly $5.29 billion. Issuance for the Ginnie Mae Home Equity Conversion Mortgage-Backed Security (HMBS), included in Ginnie Mae II single-family pools, was $645 million. Total single-family issuance for November was $39.26 billion. In addition, Ginnie Mae’s multifamily MBS issuance reached $2.02 billion for the month.
Ginnie Mae raises capital from investors in the global credit markets to ensure liquidity for affordable rental and homeownership opportunities across the country. Through its MBS, Ginnie Mae finances housing mortgage programs run by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Office of Public and Indian Housing (PIH), and the Department of Agriculture’s Rural Development Housing and Community Facilities Program (RD).