Mortgage securitizations at the Government National Mortgage Association fell for the second consecutive month to the lowest level in more than a year — with all loan types feeling the decline.
Ginnie Mae guaranteed $35.301 billion in mortgage-backed securities in August, according to monthly operational data released Monday.
Securitizations slowed compared to the previous month, when issuer volume declined 5 percent from June to $39.138 billion.
The last time issuance was this low at the Washington, D.C.-based organization was in July 2012, when volume totaled $32.043 billion.
New business during August 2012 amounted to $39.571 billion.
The government-owned corporation has guaranteed $429.151 billion in MBS since fiscal-year 2013 started on Oct. 1, 2012.
Issuances at Ginnie during the first eight months of calendar-year 2013 were $309.849 billion.
Last month’s residential issuances totaled $33.391 billion, down from $36.969 billion in June.
August’s residential activity included $0.750 billion in jumbo loans, off from $0.884 billion a month earlier.
Issuance of home-equity conversion mortgage-backed securities slipped to $0.744 billion from $0.796 billion during July.
Multifamily issuance fell to $1.910 billion in August from $2.169 billion the previous month.
