A retreat from a month earlier in the securitization of agency home loans was eclipsed by a tumble compared to the monthly issuance of a year earlier.
September saw $110.940 billion in fixed-rate mortgage-backed securities that were issued on behalf of Fannie Mae, Freddie Mac and Ginnie Mae.
Securitizations dipped from August, when agency MBS issuance amounted to $116.412 billion. An even bigger drop was recorded versus $157.645 billion in September 2016.
The statistics were provided to Mortgage Daily by eMBS.
In the nine months ended Sept. 30, 2017, fixed-rate agency issuance came to $943.550 billion.
Leading the month-over-month weakening were MBS issued on behalf of the Government National Mortgage Association, where
fixed-rate issuance fell 6 percent to $38.640 billion. Activity was down a quarter on a year-over-year basis.
Washington-based Ginnie’s issuance during the first-three quarters of this year totaled $330.981 billion.
The Federal Home Loan Mortgage Corp. recorded a 4.00 percent decline from August to $27.226 billion. Fixed-rate issuance at the McLean, Virginia-based organization tumbled 37 percent from September 2016.
From Jan. 1, 2017, through Sept. 30, Freddie’s securitizations were $235.758 billion.
The Federal National Mortgage Association had the smallest drop in securitizations: 3.97 percent to $45.074 billion. Compared to the same 30-day period last year, fixed rate issuance has declined 29 percent.
So far this year, $376.812 billion in Fannie Mae fixed-rate MBS have been issued.
