Driven by weakness in residential activity, last month’s issuance of mortgage-backed securities that are guaranteed by the Government National Mortgage Association eased from November. But full-year activity was up by more than a quarter.
Ginnie Mae issuers securitized $41.211 billion in government mortgages during December, according to operational statistics provided by the government-owned corporation.
Business was off slightly from the previous month, when issuances totaled $41.289 billion. But activity was substantially higher than in the same month during 2011, when issuances amounted to $27.540 billion.
Last month’s volume brought full-year 2012 issuances to $424.899 billion, growing from calendar-year 2011 when Ginnie Mae issuances added up to $328.9 billion.
Since the beginning of its fiscal year on Oct. 1, 2012, Ginnie’s volume totals $119.302 billion.
December’s issuances included $37.720 billion in residential activity, slowing from $39.266 billion a month earlier. Residential issuances reflected $0.880 billion in jumbo loans and $0.738 billion in home-equity conversion mortgage MBS.
Multifamily issuances accounted for $3.491 billion of monthly volume, jumping from $2.023 billion in November.
For all of 2012, the Washington, D.C.-based company’s multifamily issuances amounted to $21.834 billion, more than the $17.4 billion in 2011 multifamily issuances.
