Residential and commercial loan securitizations on behalf of the Government National Mortgage Association climbed to the highest level on record last month.
As of June 30, there were $1.6925 trillion in Ginnie Mae mortgage-backed securities that were outstanding, an analysis of monthly operational data indicates.
The Washington-based firm’s outstanding MBS grew from a month earlier, when the total was $1.6834 trillion, and a year earlier, when it was $1.5609 trillion.
The most-recent total included
$1.5963 trillion in residential MBS, rising from $1.5877 trillion as of May 31 and $1.4700 as of mid-2015.
Residential MBS included $0.0369 trillion in jumbo mortgages, $0.0543 trillion in home-equity conversion mortgages and $0.0003 trillion in manufactured housing loans.
Also reflected in the overall total were $0.0962 trillion in multifamily MBS, up from $0.0957 trillion the prior month and $0.0909 trillion the year-prior month.
During July 2016, MBS issuance on behalf of the government-owned corporation totaled $47.338 billion.
Mortgage Daily maintains data back to January 2008 — and last month’s volume was greater than any month during that period.
Securitizations rose from $45.185 billion in the previous report and $47.068 billion a year previous.
Ginnie Mae issuance amounted to $275.379 billion during the seven months ended July 31, 2016, and $384.908 billion since the company started its fiscal-year 2016 on Oct. 1, 2015.
Residential issuance accounted for $46.030 billion of last month’s total, more than $43.893 billion in June and $45.542 billion in July 2015.
Residential issuance included $2.212 billion in jumbo activity and $0.704 billion in HECM securitizations.
Multifamily issuance rose to $1.308 billion from $1.292 billion but declined from $1.526 billion in the same month last year.
