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INVESTMENT GOVERNMENT PROPERTY PRESERVATION
GINNIE MAE
REPORTS RECORD
MBS ISSUANCE IN
APRIL
Ginnie Mae reported that its mortgage-
backed securities (MBS) issuance volume for
April 2021 was a record $89.70 billion. is
total marks another strong month for Ginnie
Mae, with its now-record issuance volume up
from $82.25 billion issued in March, $77 billion
issued in February, and $82.6 billion issued in
January. Approximately 332,300 homes and
apartment units were financed by Ginnie Mae
guaranteed MBS in April of 2021.
"Investors continue to add Ginnie Mae
MBS to their fixed-income portfolios because of
the high-quality and liquidity of the securities,"
Ginnie Mae Acting Executive Vice President
Michael Drayne said. "Our commitment to
maintain a strong and flexible MBS program
that produces the types of securities investors
demand is the foundation of Ginnie Mae's
ability to finance affordable homeownership and
rental housing."
A breakdown of April issuance of $89.70
billion includes $85.48 billion of Ginnie Mae
II MBS and $4.22 billion of Ginnie Mae I
MBS, which includes $4.16 billion of loans for
multifamily housing.
Ginnie Mae's total outstanding principal
balance as of April 30 was $2.109 trillion,
up from $2.095 trillion in March, and down
slightly from the April 2020 level of $2.145
trillion.
Ginnie Mae continues to lend a hand to
struggling homeowners nationwide, working
with an estimated 2.2 million homeowners
currently in forbearance plans, according to
the Mortgage Bankers Association (MBA).
Of that total, the share of Ginnie Mae loans in
forbearance decreased 20 basis points this week
to just 5.82% of the overall volume.
"Homeowners who have exited forbearance
and been able to take up their original payment
again are performing at almost the same rate
as the overall mortgage servicing portfolio,"
said Mike Fratantoni, MBA's SVP and Chief
Economist.
Journal
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