The volume of mortgage-backed securities issued last month by the Government National Mortgage Association was down for the second month in a row.
September issuances were $39.7 billion at Ginnie Mae, according to a news release. Activity fell from $44.7 billion the prior month. It was the second consecutive monthly decline at the government-owned company.
A year earlier, fixed-rate MBS issuance at the Washington, D.C.-based firm was $25.7 billion, eMBS reported.
Ginnie Mae I single-family pool issuance accounted for $22 billion of September activity, while Ginnie Mae II single family pools amounted to more than $17 billion. Multifamily issuance was just $0.4 billion.
From Jan. 1 to Sept.30, volume totaled $337 billion, higher than $189 billion during the same period last year.
