Ginnie Mae guaranteed more than $38.6 billion in MBS over the month of October. For the first 10 months of calendar 2009, the agency provided close to $376 billion of liquidity to the secondary market, compared with $219 billion for the first 10 months of last year.
The agency also reported that in September, 3.48% of the single-family loans in Ginnie Mae guaranteed securities were 90-days or more delinquent, which dropped slightly from 3.70% in August and decreasing from 3.59% in December 2008, according to a release from Ginnie Mae.
"Ginnie Mae — whose securities carry the full faith and credit of the U.S. government — has been quick to modify and create securitization products that provide additional liquidity to help stabilize the U.S. housing market," said Thomas R. Weakland, Ginnie Mae's acting executive vice president. "And for the past 11 months we've consistently shown - with industry-wide low Single-Family delinquency rates - that our conservative approach to risk-taking is working for U.S. taxpayers."
Ginnie Mae II single-family pools was ahead with around $20 billion in MBS issuance, while Ginnie Mae I single-family pools totaled more than $18 billion.
Meanwhile, total single-family issuance for October was approximately $38 billion and Ginnie Mae's multifamily MBS issuance was nearly $828 million, the release reported.
