Issuers of Government National Mortgage Association mortgage-backed securities generated less activity in January. The decline hit both multifamily and residential business, though jumbo and reverse mortgage issuances moved higher.
The government-owned corporation reported that it guaranteed $38.271 billion in mortgage-backed securities last month.
Issuances fell from December, when volume totaled $41.211 billion.
But business was better than one year earlier, when Ginnie Mae issuances amounted to $30.044 billion.
Since the start of its fiscal-year 2013 on Oct. 1, 2012, Ginnie issuers have securitized $157.573 billion.
Last month’s total reflected $35.873 billion in residential MBS, off from $37.720 billion in December.
Included in the residential number were $0.806 billion in home-equity conversion mortgage issuances. HMBS activity improved from $0.738 billion the prior month.
Also included in the residential total were $0.932 billion in jumbo mortgage issuances, also better than the December when $0.880 billion in jumbo mortgages were securitized by the Washington, D.C.-based firm.
Issuances of Ginnie multifamily MBS fell to $2.398 billion in January from the previous month’s $3.491 billion.
