Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled slightly more than $35 billion in May.
A breakdown of May issuance includes $33.431 billion of Ginnie Mae II MBS and $1.890 billion of Ginnie Mae I MBS, which includes $1.746 billion of loans for multifamily housing.
MBS issuance for Fiscal Year 2018 to the end of May totaled $286.338 billion. Ginnie Mae’s total outstanding principal balance of $1.960 trillion is an increase from $1.830 trillion in May 2017.
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 mortgage-backed securities (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the HUD 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 on 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.