Ginnie Mae Surpasses Freddie Mac in Total Outstanding MBS, May Issuance

According to researchers at the Urban Institute, Ginnie Mae surpassed Freddie Mac for the first time in total outstanding securities backed by single-family loans according to May issuance data. Ginnie Mae had a total outstanding balance of $1.624 trillion as of May 31st, whereas Freddie Mac had $1.623 trillion in outstanding MBS. Ginnie Mae also issued more in single family MBS than Freddie Mac in May, with the former totaling $41.6 billion compared to the latter’s $29.9 billion issuance. According to an American Banker article on the matter, Freddie Mac participation certificate issuance has been declining since 2010, while Ginnie Mae issuance has been rising since mid-2008.

According to Ginnie Mae's President, Ted Tozer, “what’s most important about this milestone is not that we have passed Freddie Mac in outstanding MBS, but that Ginnie Mae’s public-private partnership model assured credit access would continue for borrowers and supported the housing recovery.”

wagers
Terms and Conditions | Privacy Policy