WASHINGTON, D.C. – Today, Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled an agency record of $77.62 billion in August, providing financing for more than 281,000 homeowners and renters.
A breakdown of August issuance includes $73.25 billion of Ginnie Mae II MBS and $4.38 billion of Ginnie Mae I MBS, which includes $4.11 billion of loans for multifamily housing.
Ginnie Mae's total outstanding principal balance of $2.121 trillion is an increase from $2.087 trillion in August 2019.
“The interest rate environment continued to be favorable for consumers purchasing and refinancing homes and for investors in affordable multifamily housing in August, demonstrated by the record-breaking volume of new Ginnie Mae MBS issuance in the month,” said Ginnie Mae Executive Vice President and Chief Operating Officer Eric Blankenstein. “Mortgage lenders across America are finding the Ginnie Mae program to be the reliable and flexible source of capital they need to help make housing affordable for hundreds of thousands of families each month.”
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.