New securitizations backed by government-insured mortgages were down last month and were also lower than the same month last year. While issuance of conforming-conventional loans was down from December, it was an improvement from the same month last year.
The three agencies — the Federal National Mortgage Association, the Federal Home Loan Mortgage Corp. and the Government National Mortgage Association — had fixed-rate issuances of $123.2 billion during January, according to data provided by eMBS.
Volume fell from $144.3 billion during December but was higher than $100.9 billion in January 2010.
The 18 percent decline at Freddie Mac was the biggest of the three agencies. The McLean, Va.-based company’s issuances were $34.9 billion, falling from December’s $42.5 billion. Activity was higher, however, than January 2010, when issuances were $28.2 billion.
With a 17 percent decline from December, Fannie Mae’s January issuances were $61.4 billion. A year prior, volume at the secondary lender was $38.3 billion.
Ginnie Mae fixed-rate issuances edged down to $26.9 billion from December’s $27.3 billion and were also lower than $34.4 billion in December 2009.
