Washington, DC – The Government National Mortgage Association (Ginnie Mae) announced today that the corporation posted $38.98 billion in total mortgage-backed securities (MBS) issuance in May. For the first five months of calendar year 2009, Ginnie Mae provided approximately $163 billion of liquidity to the secondary market, compared to nearly $80 billion for the first five months of 2008.

"Our MBS program is continuing to experience phenomenal growth," said Joseph Murin, Ginnie Mae president. "Clearly, as the economy continues to find its footing, there is still a strong need for a safe, dependable security like the Ginnie Mae MBS."

Ginnie Mae I single-family pools led the way with more than $28 billion in MBS issuance, while Ginnie Mae II single-family pools totaled more than $10 billion. Total single-family issuance for May soared past $38 billion. Ginnie Mae's multifamily MBS issuance was $319 million.

For the last 40 years, the industry has turned to the safety and security of Ginnie Mae MBS because it has the full faith and credit backing of the United States Government. As a result, Ginnie Mae's commitment to its mission has remained constant. This has allowed Ginnie Mae to provide homeownership opportunities for more than 30 million households by securitizing loans insured or guaranteed by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Department of Agriculture's (USDA) Rural Development and the Department of Housing and Urban Development's Office of Public and Indian Housing (PIH).

Ginnie Mae is a wholly-owned government corporation within the U.S. Department of Housing and Urban Development. Ginnie Mae pioneered the mortgage-backed security (MBS), guaranteeing the very first security in 1971. An MBS enables a mortgage lender to aggregate and sell mortgage loans as a security to investors. Ginnie Mae securities carry the full faith and credit of the United States Government, which means that, even in difficult times, an investment in Ginnie Mae is one of the safest an investor can make.