Ginnie Mae Issues Over $40B in MBS Loans for First Time in 41-Year History

By Anuradha Kher, Online News EditorWashington, D.C. –The Government National Mortgage Association (Ginnie Mae) has announced that it issued more than $43 billion in mortgage-backed securities (MBS) in June. For the first six months of calendar year 2009, Ginnie Mae provided nearly $207 billion of liquidity to the secondary market, compared to nearly $107 billion for the first six months of 2008.”The extraordinary strength of our MBS program clearly demonstrates the continuing need for Ginnie Mae securities in the secondary market,” says Joseph Murin, Ginnie Mae president. “Ginnie Mae’s ability to provide a safe security for investors and critical liquidity for issuers is why the corporation was created more than 40 years ago.”  Ginnie Mae I single-family pools led the way with more than $29 billion in MBS issuance, while Ginnie Mae II single-family pools totaled nearly $14 billion. Total single-family issuance for May was more than $43 billion. Ginnie Mae’s multifamily MBS issuance was $584 million.