Production of Federal Housing Administration jumbo mortgages continues to ramp up, and Ginnie Mae officials say they expect to guarantee another $1.9 billion in FHA jumbo mortgage-backed securities in August, up from $1.5 billion in July.

Since the beginning of April, Ginnie Mae issuers have securitized $4.9 billion in FHA jumbo MBS. Currently, Ginnie Mae segregates FHA jumbos into specially designated Ginnie Mae MBS, and the jumbos are not mixed with lower-balance FHA-insured mortgages.

Fannie Mae and Freddie Mac generally purchase jumbos from lenders and hold them in portfolio. (The two government-sponsored enterprises began buying jumbos in April.)

According to securities filings, Fannie purchased $947 million in jumbos in the second quarter and Freddie purchased $471 million. Ginnie Mae issuers securitized $1.4 billion in FHA jumbo MBS in the second quarter.

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