Reverse mortgage securitizations on behalf of the Government National Mortgage Association fell to an almost four-year low. Overall issuance was little changed.
While detailed data have not yet been released, a report from the Washington-based firm indicated that $1.982 trillion in Ginnie Mae mortgage-backed securities were outstanding as of July 31.
The government-owned corporation’s book of business was previously reported at $1.9708 trillion as of a month earlier and $1.8570 trillion as of a year earlier.
Ginnie did, however, release detailed issuance data, which indicated $36.774 billion in securities were issued during July
Last month’s total was comprised of $35.545 billion in residential MBS and $1.229 billion in multifamily MBS. Reflected in the residential total were $1.039 billion in jumbo MBS and $0.545 billion in home-equity conversion mortgage MBS — the least in HMBS issuance since September 2014 when the number was $0.498 billion.
Overall issuance was about the same as $36.999 billion in June. Activity, however, slowed from $44.133 billion in July 2017.
During the seven months ended July 31, issuance of Ginnie Mae MBS came to $243.098 billion. Since fiscal-year 2018 started in October 2017, issuance worked out to $360.111 billion.
