Issuance at the Government National Mortgage Association has diminished for three consecutive months and is the lowest it’s been in 12 months.
Ginnie Mae-guaranteed mortgage-backed securities
outstanding stood at $1.8055 trillion as of March 31, according to a monthly operational summary.
The total grew from $1.7982 trillion as of a month earlier and was also greater than $1.6632 trillion that was outstanding as of a year earlier.
Last month’s total consisted of $0.1010 trillion in multifamily pools and $1.7045 trillion in residential pools.
Included in the residential pools were $0.0471 trillion in securitized jumbo loans, $0.0551 trillion in home-equity conversion mortgage MBS and $0.0003 trillion in securities backed by manufactured housing loans.
Overall MBS issuance during March 2017 at the Washington-based company came to $32.931 billion — the lowest month since February 2016’s $31.537 billion.
Securitization volume was $34.370 billion
in February 2017 and $33.750 billion in March 2016. Issuance has fallen each month since December 2016, when the total was $49.412 billion.
For all three months that have elapsed so far in 2017, issuance amounted to $111.498 billion, while the total was $259.207 billion since fiscal-year 2017 started on Oct. 1, 2016.
Last month’s total issuance was comprised of
$1.662 billion in multifamily issuance and $31.269 billion in residential issuance. While jumbo MBS issuance tumbled to $1.216 billion from $1.522 billion in February, HMBS issuance rose to $0.727 billion from $0.713 billion.
