• Ocwen21.48-4.78 -18.20%
  • Zillow109.01+1.21 +1.12%
  • Trulia46.12+0.76 +1.68%
  • NationStar34.710.00 0.00%
  • CoreLogic28.24+0.51 +1.84%
  • RE/MAX31.44-0.05 -0.16%
  • Fannie Mae2.40+0.13 +5.73%
  • Freddie Mac2.26+0.16 +7.62%
  • Wells Fargo50.45+1.27 +2.58%
  • CitiMortgage51.27+0.74 +1.46%
  • Bank of America16.60+0.34 +2.09%
  • Lennar42.96+0.01 +0.02%
  • Fidelity National Financial28.75+0.45 +1.59%
  • D.R. Horton22.50+0.39 +1.76%
  • PulteGroup19.14+0.33 +1.75%
  • First American28.75+0.44 +1.55%
  • AUDUSD=X0.8783N/A N/A
  • USDJPY=X106.905N/A N/A
  • WP Stock Ticker
To show sotck chart
Home >> News >> Data >> Ginnie Mae Offloads $26B in MBS
Print This Post Print This Post

Ginnie Mae Offloads $26B in MBS

Ginnie Mae Offloads $26B in MBS

According to a recent report, ""Ginnie Mae"":http://www.ginniemae.gov/about/about.asp?Section=About issuers put up over $26 billion in mortgage-backed securities for sale on the secondary market over the course of May, reflecting a 4 percent overall decline from April.

[IMAGE]

""The continuing demand for our [mortgage-backed securities] is proof that ""Ginnie Mae"":http://www.ginniemae.gov/about/about.asp?Section=About has served taxpayers well by supporting the economy in extraordinary ways,"" said Ted Tozer, president of ""Ginnie Mae"":http://www.ginniemae.gov/about/about.asp?Section=About.

[COLUMN_BREAK]

""Issuance activity during the housing crisis has helped the Administration's housing stability efforts by pumping about $1.1 trillion in liquidity into the U.S. housing mortgage finance market,"" he added.

The ""_National Mortgage News_"":http://www.nationalmortgagenews.com/ reported a $17.5 billion total for ""Ginnie Mae"":http://www.ginniemae.gov/about/about.asp?Section=About single-family mortgages, followed by $5.5 billion in ""Ginnie Mae"":http://www.ginniemae.gov/about/about.asp?Section=About single-family loan packages. The loans are backed by the faith and credit of the ""Department of Veterans Affairs"":http://www.va.gov/, ""Federal Housing Administration"":http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/fhahistory (FHA), and ""Rural Housing Services"":http://www.rurdev.usda.gov/rhs/. The sum of single-family mortgages settled at $1.6 billion for April, according to the report.

""HUD"":http://portal.hud.gov/portal/page/portal/HUD released a report indicating the placement of 99.5 percent of ""FHA"":http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/fhahistory -insured loans and 97 percent of ""VA"":http://www.va.gov/-backed loans in ""Ginnie Mae"":http://www.ginniemae.gov/about/about.asp?Section=About packages over the course of 2010, with an end-point in September.

According to ""_National Mortgage News_"":http://www.nationalmortgagenews.com/, ""Ginnie Mae"":http://www.ginniemae.gov/about/about.asp?Section=About also securitized $770 million worth in ""FHA"":http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/fhahistory-insured reverse mortgages and $1.6 billion in multifamily loans over the course of May.

About Ryan Schuette

Ryan Schuette
Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Scroll To Top