Ginnie Mae reaches an MBS milestone.The Government National Mortgage Association (Ginnie Mae Ginnie Mae: see Federal National Mortgage Association. ) announced that the corporation has reached a milestone in mortgage-backed security Noun 1. mortgage-backed security - a security created when a group of mortgages are gathered together and bonds are sold to other institutions or the public; investors receive a portion of the interest payments on the mortgages as well as the principal payments; (MBS See Mb/sec. MBS - mobile broadband services ) issuance, solidifying so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. its role among the key institutions providing liquidity to the housing finance market. Ginnie Mae today disclosed that it has issued a record $34.5 billion in MBS in March, bringing a total of $89.7 billion of liquidity to market in 2009, versus $38.9 billion for the first three months of 2008. "As the housing market continues to find its footing, we're we're Contraction of we are. we're we are proud to announce that Ginnie Mae continues to lead by example," said Joseph Murin, Ginnie Mae president. "Our issuance volume this month, and for the year, represents our growing efforts to support the housing market and struggling homeowners during these turbulent times." Ginnie Mae I single-family pools led the way with $28.2 billion in MBS issuance; while our Ginnie Mae II single-family pools totaled $5.9 billion. Total single-family issuance for March hit $34.1 billion. Ginnie Mae's multifamily MBS issuance was steady at $334 million. |
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