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| Monthly issuances of Government National Mortgage Association mortgage-backed securities have more than doubled since last year.February MBS issuances were $27.9 billion, Ginnie Mae reported this week. Volume was barely changed from $27.3 billion in January.
But activity has soared since February 2008, when around $11.2 billion in Ginnie securities were issued. Last month included $27.5 billion in single-family guarantees and $0.4 billion in multifamily MBS. For the first five months of fiscal 2009, Ginnie said volume totals $135.9 billion — exploding from $55.2 billion during the same period in fiscal 2008. “We are in unprecedented economic territory now and the industry needs a safer haven for investments,” Joseph J. Murin, president of the government-owned entity, said in the statement. “It is evident that Ginnie Mae is that safer haven and will continue to provide liquidity as the administration works through this crisis.” |
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