Washington, DC - Ginnie Mae announced today that it guaranteed more than $41.03 billion in mortgage-backed securities (MBS) in May 2013.
“Clearly, there is still a need for Ginnie Mae’s strong presence in the housing finance industry, given the continued surge in our MBS issuances,” said Ginnie Mae President Ted Tozer. “The confidence expressed by Issuers and investors in our securities is very important to secondary market stability.”
Issuance for Ginnie Mae II single-family pools led the way with more than $31.30 billion, while Ginnie Mae I single-family pools totaled nearly $7.77 billion. Issuance for the Ginnie Mae Home Equity Conversion Mortgage-Backed Security (HMBS), included in Ginnie Mae II single-family pools, was $845 million. Total single-family issuance was $39.08 billion. In addition, Ginnie Mae’s multifamily MBS issuance reached $1.95 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 insurance 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).