Ginnie hits $27B in MBS.

The Government National Mortgage Association (Ginnie Mae) announced that issuance for its Mortgage-Backed Securities (MBS) program hit $27.1 billion in November 2008.

This marks the second consecutive month Ginnie Mae MBS issuances surpassed government-sponsored enterprises Fannie Mae and Freddie Mac.

For calendar year 2008, Ginnie Mae MBS issuances stand at $246 billion, compared to $81.6 billion for the first 11 months of 2007. While California led in this month's issuances, the total issuances of $27.1 billion provided liquidity to the following regions: $6.7 billion from the West, $4.6 billion from the Midwest, $5.7 billion from the mid-Atlantic, $8.7 billion from the South, $1.4 billion from the Southwest.

"Ginnie Mae has consistently provided liquidity to the market and it is no surprise that our November MBS issuances were strong," said Joseph J. Murin, president of Ginnie Mae. "It is further proof that Ginnie Mae is continuing to thrive and provide stability. During these turbulent times, Ginnie Mae is proud to help millions of Americans achieve the dream of homeownership, while still maintaining the confidence of investors."

Ginnie Mae is a wholly-owned government corporation within the U.S. Department of Housing and Urban Development.