Ginnie Mae's MBS hit $24b.The Government National Mortgage Association (Ginnie Mae Ginnie Mae: see Federal National Mortgage Association. ) announced that issuances for its Mortgage-Backed Securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. ++(MBS See Mb/sec. MBS - mobile broadband services ) program hit $24 billion in December 2008. For calendar year 2008, Ginnie Mae MBS issuances stand near $270 billion, compared to $97 billion for calendar year 2007. While California led in this month's issuance, the total issuance of $24 billion was comprised of: $6.1 billion from the West, $4.2 billion from the Midwest, $5.1 billion from the Mid-Atlantic, $7.5 billion from the South, $1.1 billion from the Southwest. "Even during tough economic times, consumers need mortgages, lenders need liquidity for those mortgages and investors need a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for their investments," said Joseph J. Murin, president of Ginnie Mae. "We are continuing to do our part to help rebuild the housing market and housing finance industry that is so vital to our nation's economy." |
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