The Federal Home Loan Mortgage Corp. gave a stunning performance in the first month of 2012 with issuance soaring 51 percent. While the Government National Mortgage Association also saw a gain, securitizations dropped by nearly a quarter at the Federal National Mortgage Association.
The volume of fixed-rate mortgage-backed securities issued by all three housing finance agencies during January totaled $108.7 billion, according to statistics released by eMBS.
Securitizations fell from $112.7 billion in December and $122.9 billion in January 2011.
Dragging down monthly volume was Fannie Mae, where issuances tumbled to $53.1 billion from December’s $69.5 billion. Business was also down from a year earlier, when, the Washington, D.C.-based company saw $61.2 billion in fixed-rate issuance.
But Freddie Mac pushed securitizations up to $29.3 billion from the prior month’s $19.4 billion. However, Freddie’s activity slumped from January 2001, when the McLean, Va.-based secondary lender issued $34.9 billion.
Ginnie Mae also saw a month-over-month improvement, with $26.3 billion in issuance versus December’s $23.9 billion. Securitizations slipped at the government-owned corporation from a year prior, when issuances amounted to $26.9 billion.
