The Government National Mortgage Association lifted monthly securitization activity. The gain would have been more substantial if it weren’t for commercial issuance.
Issuers of Ginnie Mae mortgage-backed securities completed securitizations totaling $28.650 billion during January, according to operational data from the company.
Activity at the Washington-based firm crept up from the final month of last year, when MBS issuance was $28.475 billion.
The improvement at Ginnie was more stark compared to the same month last year, when issuance totaled just $22.938 billion.
Since beginning its fiscal-year 2015 on Oct. 1, 2014, issuance at the government-owned corporation amounted to $116.303 billion.
Included in last month’s activity was $27.466 billion in residential issuance, more than December 2014’s $26.779 billion and also up from $21.522 billion in January 2014.
Residential issuance included $1.071 billion in jumbo transactions, off from the previous month’s $1.130 billion.
Also included in residential activity was issuance of $0.712 billion in home-equity conversion mortgages. HMBS volume increased from December’s $0.648 billion.
Multifamily mortgage securitizations at Ginnie slid to $1.184 billion from $1.696 billion a month earlier and $1.416 billion a year earlier.
