Issue link: http://dsnews.uberflip.com/i/1464801
88 88 INVESTMENT GOVERNMENT PROPERTY PRESERVATION GINNIE MAE MBS ISSUANCE VOLUME EXCEEDS 53B IN FEBRUARY Approximately 191,000 homes and apartment units were financed by Ginnie Mae guaranteed mortgage-backed securities (MBS) in February, as Ginnie Mae's MBS issuance volume for February 2022 hit $53.01 billion. "e release of February MBS pool factors and prepayment activity show encouraging results," Ginnie Mae Office of Capital Markets SVP John Getchis said. "Noticeably, borrower default-related prepayments occurring in Ginnie Mae's securities continue their trend of monthly declines. February's default-related prepayments consisted of less than 29,000 loans, the lowest level since April 2020, and well below the 48,708 average of the preceding 12-months. is trend improves the value proposition of Ginnie Mae MBS relative to other fixed-income and MBS investments." Approximately 230,000 homes and apartment units were financed by Ginnie Mae MBS in January, as MBS issuance volume for January 2022 hit $62.98 billion. A breakdown of February 2022 issuance of $53 billion includes $50.26 billion of Ginnie Mae II MBS and $2.75 billion of Ginnie Mae I MBS, which includes approximately $2.59 billion in loans for multifamily housing. As of February 28, Ginnie Mae's total outstanding principal balance stood at $2.179 trillion, up from $2.168 trillion in January 2022, and up from $2.106 trillion year over year. In late January, Ginnie Mae issued a new memorandum (APM 22-01) stating that they are streamlining its documentation requirements for servicers participating in the Federal Housing Administration's (FHA) Advanced Loan Modification program (ALM). e memo did away with the requirement for recordation and title insurance in some cases. e new policy also supports the Biden administration's "goal of assisting homeowners impacted by the pandemic get on the road to economic recovery" by creating a more efficient process so that servicers can assist more homeowners to transition from forbearance to permanent loan modifications. Journal