The issuance of mortgage-backed securities guaranteed by Ginnie Mae increased last month despite the second consecutive monthly slowdown in multifamily activity.
Ginnie Mae issuers securitized $41.034 billion in MBS during May, according to operational data reported by the Washington, D.C.-based company.
Volume increased from April, when the government-owned corporation guaranteed $39.958 billion in securities.
In the same month during 2012, Ginnie Mae issuance was lower at $36.562 billion.
Since Ginnie’s fiscal-year 2013 started on Oct. 1 of last year, $313.669 billion in MBS have been guaranteed.
From Jan. 1 through May 31, issuance totaled $194.367 billion.
Residential issuance increased to $39.083 billion from $37.814 billion a month earlier and $27.788 billion a year earlier.
Jumbo issuance slid to $0.576 billion from $0.812 billion in April, while issuance of home-equity conversion mortgage MBS fell to $0.845 billion from $0.972 billion.
Multifamily issuance by Ginnie retreated to $1.951 billion from $2.144 billion guaranteed in April — when issuance was also down from the previous month.
