WASHINGTON, D.C. – Ginnie Mae mortgage-backed securities (MBS) continue to be a strong source of capital for America’s homeowners, with more than $76.2 billion of securities issued in November, the fifth consecutive month issuance topped $70 billion. November volume represents home financing for more than 274,000 households.
Historically low interest rates continue to drive home purchases and mortgage refinancing,” said Ginnie Mae Executive Vice President Eric Blankenstein. “As we enter a New Year, investors and Issuers can be sure that Ginnie Mae is focused on meeting the diverse product needs of investors and Issuers that keep capital flowing to millions of families each year.”
A breakdown of November issuance of $76.29 billion includes $72.43 billion of Ginnie Mae II MBS and $3.86 billion of Ginnie Mae I MBS, which includes $3.77 billion of loans for multifamily housing.
Ginnie Mae's total outstanding principal balance as of November 30 was $2.115 trillion, essentially flat with October 2020 and up from $2.111 trillion in November 2019.
For more information on monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis visit Ginnie Mae Disclosure.
About Ginnie Mae
Ginnie Mae is a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing and the Department of Agriculture Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States government.
Ginnie Mae I MBS are modified pass-through mortgage-backed securities for which registered holders receive separate principal and interest payments on each of their certificates. Ginnie Mae I securities can include single-family, multifamily, manufactured home and project construction loans.
Ginnie Mae II MBS are modified pass-through mortgage-backed securities for which registered holders receive an aggregate principal and interest payment from a central paying agent. An Issuer may participate in the Ginnie Mae II MBS either by issuing custom, single-Issuer pools or through participation in the issuance of multiple-Issuer pools, which combine loans with similar characteristics.