Annual securitizations were the lowest they’ve been in three years at Ginnie Mae. Jumbo issuance plunged by a third, but reverse mortgage activity was higher. The government-owned corporation’s book of business broke $2 trillion.
Including residential and multifamily activity, issuance of Ginnie Mae mortgage-backed securities during September came to $35.749 billion, according to monthly operational data from the Washington-based firm.
Securitizations on behalf of the Government National Mortgage Association, as it is formally known, retreated from $38.872 trillion the preceding month and dropped from $41.580 billion a year previous.
Source: Mortgage Daily