Ginnie Mae issuers sold $25.6 billion of MBS into the secondary market during May, down almost 4% from the previous month, according to new figures released by the Ginnie Mae.
The agency reported that issuance for Ginnie Mae II single-family MBS totaled $17.5 billion in May and issuance of Ginnie Mae I single-family pools came to $5.5 billion.
These government-guaranteed MBS are backed by Federal Housing Administration (FHA), Department of Veterans Affairs, and Rural Housing Services loans.
A recent report issued by the Department of Housing and Urban Development shows that 99.5% of FHA-insured loans and 97% of VA-guaranteed loans were placed in Ginnie Mae pools during FY 2010, which ended last September.
Ginnie Mae issuers also securitized $770 million of FHA-insured reverse mortgages and $1.6 billion FHA-insured multifamily loans in May.
