WASHINGTON, D.C. – (RealEstateRama) — Ginnie Mae today announced that issuance of its mortgage back securities (MBS) totaled $39.13 billion in November.
A breakdown of November’s issuance includes $37.215 billion of Ginnie Mae II MBS and $1.986 billion of Ginnie Mae I MBS, which provided access to $37.734 billion in capital for single family home loans and $1.467 billion for multifamily home loans.
Issuance in Fiscal Year to 2018 November issuance is $79.341 billion. Ginnie Mae total outstanding unpaid principal balance increased to $1.904 trillion, which is up from $1.894 trillion in October 2016.
About Ginnie Mae
Ginnie Mae is a wholly-owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae mortgage backed securities MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the HUD Office of Public and Indian Housing, and the Department of Agriculture Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.
Ginnie Mae I MBS are modified pass-through mortgage-backed securities on which registered holders receive separate principal and interest payments on each of their certificates. Ginnie Mae I securities can include single family, multifamily, manufactured home, and project construction loans.
Ginnie Mae II MBS are modified pass-through mortgage-backed securities for which registered holders receive an aggregate principal and interest payment from a central paying agent. An issuer may participate in the Ginnie Mae II MBS either by issuing custom, single-issuer pools or through participation in the issuance of multiple-issuer pools, which combine loans with similar characteristics.
Contact: Michael Huff