Despite a slight increase in the securitization of jumbo loans and reverse mortgages, issuance at the Government National Mortgage Association slowed last month.
Issuers of Ginnie Mae mortgage-backed securities generated $39.138 billion in activity during July, according to operational data reported by the government-owned corporation.
Business fell from the previous month, when MBS issuance amounted to $41.043 billion.
Issuance, however, was stronger than during the same month last year, when issuance at the Washington, D.C.-based firm totaled $32.043 billion.
Calendar-year 2013 MBS issuance at Ginnie totals $274.548 billion, while volume for fiscal-year 2013 — which began on Oct. 1, 2012 — amounts to $393.850 billion.
July 2013’s activity included $36.969 billion in residential issuance, off from $38.712 billion a month earlier but better than the $30.384 billion issued one year earlier.
Residential issuance reflected $0.884 billion in jumbo MBS, stronger than June’s $0.855 billion in jumbo issuance.
Issuance of home-equity conversion mortgage MBS also increased, to $0.796 billion from $0.703 billion.
Ginnie reported that multifamily issuance fell to $2.169 billion during the latest month from $2.331 billion in June. But multifamily volume rose from $1.659 billion in the same month during 2012.
