In February, total Ginnie Mae issues of HECM Mortgage Backed Securities (HMBS) reached $906 million, an increase of 4% over the $870 issued in January.
This marks the third highest amount since issues peaked in February of 2010 at 1.45 billion. Following a spike in December of 2010 to $1.026 billion the total dropped in January before rebounding in February. The second highest total in the preceding year was August at $994 million. Total issues by Ginnie Mae for residential mortgage securities was at $26.22 billion, making the HMBS about 3% of their total issued securities.
The total Remaining Principle Balance (RPB) of outstanding HMBS was $21.663 billion.
