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INVESTMENT GOVERNMENT PROPERTY PRESERVATION
GINNIE MAE
GUARANTEES
50B-PLUS IN
MBS IN APRIL
Ginnie Mae guaranteed nearly $52 billion
in mortgage-backed securities (MBS) in April
2022, supporting affordable homeownership
and rental units for more than 186,500
households during the month. Ginnie Mae has
seen continued strength in purchase market
activity at insuring agencies driven by the
Federal Housing Administration (FHA) and
Department of Veterans Affairs (VA) lending,
and a decrease in rate term refinance activity,
given the rapid increases to mortgage rates over
the period.
"April issuance added $19 billion to the
overall portfolio this month, the strongest
growth we have seen in quite some time,"
Ginnie Mae President Alanna McCargo said.
"Despite the rapidly changing housing market
dynamics, we are also on pace to cross the $2.2
trillion threshold in May."
Ginnie Mae's April issuance includes
$49.29 billion of Ginnie Mae II MBS and
$2.38 billion of Ginnie Mae I MBS, which
includes approximately $2.25 billion of loans
for multifamily housing. As of April 30,
Ginnie Mae's total outstanding principal
balance was $2.199 trillion, an increase from
$2.182 trillion in March 2022 and $2.105
trillion in April 2021.
"Total new mortgage origination volume is
expected to slow due to rising mortgage rates
and home affordability challenges, yet we see a
strong MBS issuance volume of more than $50
billion that continues to help ensure support
for first-time homebuyers and those seeking
affordable rental housing during this cycle,"
McCargo added.
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