Ginnie Mae Reports Continuing Decline in MBS Issuance

Ginnie Mae MBS issuance fell in November for the fifth straight month to the lowest level since June 2011. The secondary market agency reported that Ginnie issuers securitized $26 billion in mortgages, down from $28 billion in the prior month.

Issuers sold $24 billion in single-family Ginnie II MBS to investors that included $878 million in FHA-insured reverse mortgages.

Ginnie I single-issuers securitized $515 million in single-family loans and $1.2 million in multifamily pools.

A separate report by HUD shows that FHA approved 84,000 single-family loans in October, which represents a recovery of sorts for FHA. In September, FHA endorsements dropped to 73,000 from 97,700 in August.

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