The volume of mortgage securities guaranteed by Ginnie Mae last month slipped from June. But the level of issuance came in higher than the same month last year. Guarantees on securities backed by apartment loans surpassed $10 billion for the year.
Mortgage-backed securities guaranteed by the Government National Mortgage Association totaled $32.04 billion during July, operational data from the Washington, D.C.-based company indicated.
Activity was off from a month earlier, when Ginnie Mae issuance amounted to $34.65 billion.
But the government-owned corporation managed to increase activity from July 2011, when volume was $27.7 billion.
In the seven months ended July 31, issuers of Ginnie Mae MBS generated $226.94 billion in deals. During its fiscal-year 2012, issuances have reached $309.37 billion.
Issuance of single-family MBS fell to $30.38 billion last month from June’s $32.19 billion.
July’s single-family volume included $4.89 billion in Ginnie Mae I activity, $24.79 billion in issuances of Ginnie Mae II securities and home-equity conversion mortgage MBS issuance of $0.703 billion.
Multifamily issuance slipped to just above $1.65 billion from $1.66 billion a month earlier. Year-to-date July 31 multifamily issuances totaled around $10.4 billion.
