Although securitizations have risen for three consecutive months at Fannie Mae, issuance at its two agency counterparts fell to the lowest levels in at least nine months — pulling down overall activity.
Issuance of fixed-rate mortgage-backed securities on behalf of Fannie,
Freddie Mac and Ginnie Mae came to $100.114 billion during the first month of this year.
Volume declined from December 2017, when issuance totaled $107.220 billion. The drop was even more steep versus the $131.706 billion issued in January 2017.
eMBS, a provider of data and analytics to MBS market participants, provided the statistics to Mortgage Daily.
At the Federal National Mortgage Association, January 2018’s fixed-rate issuances amounted to $45.543 billion, climbing 5 percent from a month earlier. Fannie’s activity has increased each month since October. Still, the Washington-based organization’s business declined 14 percent from a year earlier.
At the Federal Home Loan Mortgage Corp., fixed-rate MBS issuance tumbled 29 percent from December to $20.970 billion. McLean, Virginia-based Freddie’s securitizations sank 44 percent from January 2017.
A 2 percent dip from the prior month left MBS issuance on behalf of the Government National Mortgage Association at $33.601 billion. The government-owned corporation’s securitizations were down 19 percent from a year prior.
