WASHINGTON, D.C. – Ginnie Mae mortgage-backed securities (MBS) issuance surged in December to above $81.7 billion, financing housing for more than 289,000 households. December was the sixth consecutive month that MBS issuance exceeded $70 billion.
A record 57 Ginnie Mae Platinum securities transactions occurred in December, totaling more than $3.5 billion.
“Investors demonstrated widespread demand for Ginnie Mae securities in December and throughout 2020,” said Executive Vice President Eric Blankenstein. “During a year of unprecedented business volume, Ginnie Mae seamlessly executed its mission to safely provide consistent liquidity to the government mortgage loan market, supporting the housing needs of millions of homeowners and renters.”
A breakdown of December issuance of $81.7 billion includes $76.7 billion of Ginnie Mae II MBS and $4.96 billion of Ginnie Mae I MBS, which includes $4.88 billion of loans for multifamily housing.
Ginnie Mae's total outstanding principal balance as of December 31 was $2.11 trillion, essentially flat with November 2020 and down slightly from $2.118 trillion in December 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.