Residential funders issued $34.7 billion of Ginnie Mae-backed MBS in June, down nearly $2 billion from the month prior, but a 32% spike from a year ago, according to new figures released by the agency.

The new report shows that issuers securitized $26.5 billion of single-family mortgages in Ginnie Mae II pools and $5.7 billion of Ginnie I pools. 

Securitizations of jumbo mortgages totaled $1.02 billion in June – making it the second consecutive month jumbo loan issuance has exceeded $1 billion. Federal Housing Administration (FHA) lenders can originate jumbo loans of up to $729,750.  

Reverse mortgage lenders securitized $795 million of FHA-insured home equity conversion mortgages, down from $854 million in May.

Multifamily issuance totaled $1.66 billion in June, compared to $1.42 billion the month prior.

Ginnie Mae guaranteed MBS are backed by FHA, Department of Veterans Affairs, and Rural Housing Service loans.

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