Business picked up at Ginnie Mae.
The government-owned corporation reported that it guaranteed $35.5 billion in mortgage-backed securities during October. Issuance was better than $33.9 billion the previous month.
Although Ginnie didn’t report activity for October 2009, a MortgageDaily.com analysis of available data indicated that guarantees were around $34.5 billion.
From Jan. 1 to Oct. 31 of this year, volume amounted to $331.2 billion.
Last month’s guarantees included $18.7 billion in Ginnie Mae II single-family pools, $14.7 billion in Ginnie Mae I single-family pools and $0.9 billion in securitized home-equity conversion mortgages.
October activity also included around $1.4 billion in multifamily issuance, more than $1.2 billion a month earlier.
Ginnie, which is also known as the Government National Mortgage Association, raises capital for loans insured by the Federal Housing Administration and mortgages guaranteed by the Department of Veterans Affairs.
