Residential lenders issued $27.8 billion of GNMAs in August, a slim gain of just $14 million from the prior month, according to new figures released by the Department of Housing and Urban Development (HUD).

However, the reading marks the fourth consecutive monthly increase in GNMA issuance, a sign that Federal Housing Administration (FHA) production remains strong and that more firms are starting to use the program.

Mortgage bankers issued $17.8 billion of GNMA II single-family MBS during the month, and $7.7 billion of GNMA I bonds.

The government guaranteed MBS are backed by FHA, Department of Veterans Affairs, and Rural Housing Services loans.

Ginnie Mae issuers also securitized $844 million of reverse mortgages and $1.5 billion of multifamily loans in August.

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