Ginnie Mae Surges to Record $29 Billion MBS Issuance

August Issuance Sets New Record for Ginnie Mae Washington, DC Today, the Government National Mortgage Association (Ginnie Mae) announced that issuance for its Mortgage-Backed Securities (MBS) program increased to a record breaking $29 billion in August, the highest rate of issuance in Ginnie Mae's history. For the first eight months of calendar year 2008, total MBS issuance stands at $162 billion, compared to $58 billion for the first eight months of 2007. "Thirty billion dollars in thirty days clearly shows investors are confident in Ginnie Mae MBS," said Joseph Murin, President of Ginnie Mae. "We have seen our issuance increase, on average, about 10 percent each month since January. This surge clearly shows that we are providing the support the secondary market needs as the mortgage finance industry continues to work its way through the housing downturn and credit crisis. This increase in issuance solidifies Ginnie Mae's position as an industry leader." Since 1970, the industry has turned to the safety and comfort of Ginnie Mae MBS. These securities are the only MBS to carry the explicit full faith and credit guarantee of the United States Government.