Ginnie Mae issued $43.6 billion in mortgage-backed securities in June, up from the previous record of $39 billion in May, as issuance during the first six months of this year has nearly doubled from a year ago.

Ginnie Mae issued $207 billion in MBS during the first half of this year, compared to $107 billion in the first half of 2008.

The secondary market agency guarantees mostly single-family MBS. It guaranteed only $584 million in multifamily mortgages in June and $319 million in May.

The June monthly report shows a 125% jump in the issuance of MBS backed by FHA-insured reverse mortgages, which are called home equity conversion mortgages. Ginnie issuers securitized $590 million in HECMs in June — the highest level ever.

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