Ginnie Mae Snaps Issuance Record with Forward and Reverse Products
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.