Ginnie Mae MBS hit $27.1 billion in November, which marks the second straight month the agency's MBS issuances surpassed government-sponsored enterprises Fannie Mae and Freddie Mac.
For calendar year 2008, Ginnie Mae MBS issuances stand at $246 billion, compared with $81.6 billion for the first 11 months of 2007.
Although California led in this month's issuances, Ginnie Mae said that the total issuances of $27.1 billion provided liquidity to the following regions: $6.7 billion from the West, $4.6 billion from the Midwest, $5.7 billion from the mid-Atlantic, $8.7 billion from the South and
$1.4 billion from the Southwest.
"Ginnie Mae has consistently provided liquidity to the market and it is no surprise that our November MBS issuances were strong," said Joseph Murin, president of Ginnie Mae. "It is further proof that Ginnie Mae is continuing to thrive and provide stability. During these turbulent times, Ginnie Mae is proud to help millions of Americans achieve the dream of homeownership, while still maintaining the confidence of investors."