New business inched up last month at the Government National Mortgage Association. Residential activity moved higher, while multifamily business slowed.
The Washington, D.C.-based company reported that $38.660 billion in Ginnie Mae mortgage-backed securities were issued during February.
Business was a little better than a month earlier, when issuances amounted to $38.271 billion.
Activity was significantly stronger than during the same month in 2012, when securitizations totaled $27.967 billion.
Volume during the first two months of 2013 at the government-owned corporation amounted to $76.931 billion, while issuances since its fiscal-year 2013 started on Oct. 1, 2012, totaled $196.233 billion.
Issuance of just residential MBS was $36.629 billion in February, up from $35.873 billion the prior month. The most-recent residential issuance included $1.085 billion in jumbo loans and $0.695 billion in home-equity conversion mortgage MBS.
Multifamily issuance fell to $2.031 billion last month from $2.398 billion.
