Ginnie Mae has guaranteed more than $46 billion in mortgage-backed securities (MBS) in June, helping support affordable homeownership and rental unit development for more than 164,000 households. June’s issuance now brings the Ginnie Mae MBS program balance outstanding to approximately $2.233 trillion.
The June issuance includes $45 billion of Ginnie Mae II MBS and $1.65 billion of Ginnie Mae I MBS, which includes approximately $1.46 billion of loans for multifamily housing.
While new mortgage loan originations were slightly down compared to May, there was a net increase in securitized loan production for the reporting period.
“Homebuyers are facing the toughest housing market conditions we have seen in many years,” said Ginnie Mae President Alanna McCargo. “Although mortgage rates have moderated in recent weeks, the lack of enough housing inventory continues to put pressure on affordability for first time homebuyers and renters.”
“The recent launch of the Department of Housing and Urban Development’s housing supply initiative, Our Way Home, is so critical to boost the nation’s affordable housing supply. The initiative builds on the Biden-Harris Administration’s housing supply Action Plan to address communities’ housing supply needs in an equitable, inclusive and sustainable fashion,” said McCargo. “Ginnie Mae is committed to partnering with all of our stakeholders to expand the availability of affordable housing finance tools to support households across the country.”
For more information on monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis visit the Ginnie Mae Disclosure here.