Ginnie Mae has snapped its issuance record with both forward and reverse products and the numbers are incredibly promising.
"Total issuance in fiscal 2017 — which ended September 30 — came out to $504.6 billion, a new high water mark that fell significantly above last year’s total of $466.6 billion," according to Reverse Mortgage Daily.
"The government corporation’s outstanding unpaid principal balance currently totals $1.884 trillion, up from $1.728 trillion at the end of fiscal 2016."
Along with Ginnie Mae's issuance number, the Home Equity Conversion Mortgage-backed securities skyrocketed in September, climbing to over $1 billion. The report states that is the third-highest month of all time.
To learn more about these record breaking numbers, click on the image above.