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HMBS

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HMBS Issues Drop Off 

Jun 29, 2011By

Following four consecutive months of increases, new issues of Ginnie Mae HECM mortgage-backed securities (HMBS) fell by 25% in May. After reaching the second highest total in the previous 18 months to $1.029 billion in April, new issues of HMBS hit the third lowest total in the same time period, reaching $771 million.  Total issuance by Ginnie Mae I & II MBS for the month was down by 3.7% from $26.4 billion to $25.4 billion.  Issuance of single-family MBS topped $23.85 billion, while multi-family issuance was over $1.57 billion. The new issues of Ginnie Mae HMBS have followed a