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87 87 INVESTMENT GOVERNMENT PROPERTY PRESERVATION INDUSTRY UPDATES MBS REMAIN 'STRONG SOURCE OF CAPITAL FOR AMERICA'S HOMEOWNERS' Ginnie Mae said its mortgage-backed securities (MBS) "continue to be a strong source of capital for America's homeowners, with more than $76.4 billion of securities issued in October, up from $75.8 billion in September and $60 billion one year ago." e reported volume reflects home financing for about 277,000 households, Ginnie Mae reported. "is is a year that continues to set records for Ginnie Mae and the households we finance," said Seth Appleton, Principal EVP. "Investors around the world are attracted to the liquidity and value of the only government- guaranteed MBS and the role it plays in keeping housing accessible and affordable for millions of families each year." A breakdown of October issuance of $76.44 billion includes $72.49 billion of Ginnie Mae II MBS and $3.95 billion of Ginnie Mae I MBS, which includes $3.85 billion of loans for multifamily housing. Ginnie Mae describes its I and II MBS as follows: Ginnie Mae I MBS are modified pass- through mortgage-backed securities for which registered holders receive separate principal and interest payments on each of their certificates. Ginnie Mae I securities can include single- family, multifamily, manufactured home, and project construction loans. Ginnie Mae II MBS are modified pass-through mortgage-backed securities for which registered holders receive an aggregate principal and interest payment from a central paying agent. An Issuer may participate in the Ginnie Mae II MBS either by issuing custom, single-Issuer pools or through participation in the issuance of multiple-Issuer pools, which combine loans with similar characteristics. According to the company, Ginnie Mae MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development's Office of Public and Indian Housing, and the Department of Agriculture Rural Housing Service. According to Ginnie Mae, it is the "only MBS to carry the explicit full faith and credit of the United States government." Journal Follow Us At: @DSNewsDaily