Top Ginnie Mae Issuers See Sharp Decline In Production During First Half of 2005
July 14, 2005
Wells Fargo Home Loans and the rest of the major producers of Ginnie Mae mortgage-backed securities saw sharp declines in their volume in the program during the first six months of 2005. Wells remained the largest Ginnie Mae issuer by a wide margin with $12.60 billion in production through the first half of the year. But that was down 35 percent from the same period in 2004, while overall Ginnie issuance dropped 40 percent. [Data table included]