Thursday, June 19, 2008

Ginnie May Break MBS Record

National Mortgage News (06/16/08) Vol. 32, No. 37, P. 1; Sichelman, Lew
Ginnie Mae reportedly is on pace to issue $200 billion in securities in fiscal 2008 and could even top its previous high of $216 billion. This is mainly due to a revitalized Federal Housing Administration, which is fielding applications at triple the rate of just a year ago. In the first eight months of its current fiscal year, Ginnie Mae issued $112 billion in securities compared to $85.1 billion for all of the previous fiscal year. Meanwhile, the Department of Veteran Affairs' mortgage program also continues to perform strongly, with the volume of VA-backed loans up more than 50 percent over the same period a year ago.

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