Ginnie MBS Issuance Rises in May, Up 12% from Year Ago

Ginnie Mae MBS issuance rose 2.7% in May to the highest level of the year following a 10% jump in April.

Lenders issued and sold $41 billion in Ginnie MBS to investors, up from $40 billion in April, according to new figures released by the Government National Mortgage Association.

May issuance included $38.3 billion in forward single-family loans in Ginnie Mae II and in Ginnie I pools, up from $36.8 billion in the prior month.

Reverse mortgage lenders securitized $845 million in FHA-insured home equity conversion mortgages, down from $972 million in the prior month.

Securitizations of jumbo mortgages (with balances above $417,000) totaled $576 million, down from $812 million in April.

May issuance of multifamily MBS totaled $1.95 billion, down slightly from $2.1 billion in the prior month.

Overall, Ginnie MBS issuance is up 12% from May 2012.

Article source: http://www.nationalmortgagenews.com/dailybriefing/ginnie-mbs-issuance-rises-in-may-up-12-percent-from-year-ago-1036835-1.html

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