Ginnie Mae announced that issuances for its MBS program reached $24 billion in December.
For 2008, Ginnie Mae MBS issuances stand near $270 billion, rising from $97 billion in 2007.
Although California led in this month's issuance, the total issuance of $24 billion was made up of: $6.1 billion from the West; $4.2 billion from the Midwest; $5.1 billion from the Mid-Atlantic
$7.5 billion from the South; and $1.1 billion from the Southwest
"Even during tough economic times, consumers need mortgages, lenders need liquidity for those mortgages and investors need a safe harbor for their investments," said Joseph Murin, Ginnie Mae president. "Ginnie Mae is proud to be that safe harbor. We are continuing to do our part to help rebuild the housing market and housing finance industry that is so vital to our nation's economy."