Fannie Mae (FNMA)

[navycmdr]

Agency MBS Issuance Eases in February but Not By Much

Fri March 5, 2021 - [e-mail]



Single-family MBS production at Fannie Mae, Freddie Mac and Ginnie Mae eased up in February but the party looks far from over according to a new analysis and ranking from Inside MBS & ABS.

The agencies issued $304.15 billion of new single-family MBS in February — the fifth straight month over the $300 billion mark, a level never seen until August of last year.

Issuance was down 9.1% from January, which can be partly blamed on fewer business days and a seasonal low spot for purchase-mortgage business.

The agencies saw a combined 22.0% drop in purchase-loan volume, with Fannie and Ginnie recording bigger declines. Despite the February slump, the agency purchase business in the first two months of 2021 was up 38.6% from the same period in 2020.