Business was weaker last month at the Government National Mortgage Association, though the company said its multifamily issuance was maintaining a “strong pace.”
Issuance of Ginnie Mae mortgage-backed securities was more than $34 billion during August, the government-owned firm reported Friday.
Business fell from $37.8 billion in July and was worse than $44.7 billion during August 2009.
So far this year, the Washington, D.C.-based corporation has reported issuances of $261.8 billion.
Ginnie President Theodore Tozer said in the news release that the company’s MBS are having a stabilizing effect on the economy.
Last month’s issuance of Ginnie Mae II single-family pools exceeded $21 billion, while Ginnie Mae I single family issuance was more than $10.9 billion.
Nearly $1.0 billion in Ginnie Mae HECM Mortgage Backed Security was issued during August.
Multifamily MBS issuance was higher than $1.3 billion. The company said multifamily issuance was sustaining “a strong pace.”
