Washington, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.477 trillion in September, including $36.6 billion of total MBS issuance, leading to $19 billion of net growth. Issuance for this month was less than $38.1 billion in August and $38.0 billion in July.
New September MBS issuance supports the financing of nearly 120,000 households, including 56,000 first-time homebuyers. Approximately 75 percent of the September MBS issuance reflects new mortgages that support home purchases, because refinance activity remained low due to higher interest rates.
For the 2023 calendar year to date, Ginnie Mae supported the pooling and securitization of more than 466,000 first-time homebuyer loans.
The September issuance includes $35.6 billion of Ginnie Mae II MBS and more than $991 million of Ginnie Mae I MBS, including approximately $1,814 million in loans for multifamily housing.
For more information on monthly MBS issuance, Unpaid Principal Balance (UPB), real estate investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae Disclosure. Additional information about Ginnie Mae is available at https://www.ginniemae.gov and on X (formerly known as Twitter), YouTube, Facebook and LinkedIn.
About Ginnie Mae
Ginnie Mae is an entirely government-owned corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae mortgage-backed security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.