Ginnie Mae issuers securitized $34.4 billion of government guaranteed residential mortgages in November, down 3% from the prior month.

Mortgage bankers issued $33.2 billion of single-family GNMA MBS, and $1.2 billion in multifamily securities.

At the end of November, Ginnie Mae's MBS portfolio topped $1.06 trillion. GNMA reached the $1 trillion mark by guaranteeing more than $400 billion of MBS in both 2009 and 2010.

"Almost 23% of the $3.6 trillion in MBS guaranteed by Ginnie Mae since its inception [in 1968] has been issued in the last two years," according to the agency's annual report.

Ginnie Mae MBS are backed by Federal Housing Administration, Department of Veterans Affairs, and Rural Housing Services loans.

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