Mortgage lenders issued $29.2 billion of GNMA MBS in March, up 5% from the prior month as securitizations of jumbo and multifamily loans surged, according to new figures released by the government.
The new report shows that issuers securitized $21.6 billion of single-family mortgages in Ginnie Mae II pools and $5.3 billion of Ginnie Mae I pools.
The Ginnie II pools included $641 million of FHA-insured jumbo mortgages in February, up 50% from the prior month.
Federal Housing Administration jumbos have loan balances above $625,500 and up to $729,750.
Securitizations of FHA-insured reverse mortgage totaled $883 million, compared to $718 million in February.
Issuers placed $2.9 billion of multifamily loans in Ginnie I pools in March, more than double February’s volume.
Ginnie Mae guaranteed MBS are backed by Federal Housing Administration, Department of Veterans Affairs, and Rural Housing Service loans.