A modest improvement was made in monthly securitization volume at the Government National Mortgage Association. But a year-over-year drop was also reported.

Issuance of Ginnie Mae mortgage-backed securities amounted to $36.999 billion during June, according to data released Monday by the government-owned organization.

Securitizations surpassed the $35.321 billion in issuance the preceding month. But business has retreated from $41.526 billion in the same month last year.

Source: Mortgage Daily