2012-12-03bloomberg.com

Issuance of U.S. government-backed mortgage securities soared 45 percent last month to the highest since at least 2009 as lenders rushed to create bonds before guarantors Fannie Mae and Freddie Mac increase their fees.

About $207 billion of securities backed by the taxpayer- supported firms or U.S.-owned Ginnie Mae were issued, according to data compiled by Bloomberg. This year's sales reached $1.6 trillion, up from $1.2 trillion in all of 2011, as refinancing jumps amid record-low loan rates and expanded qualification programs for borrowers with little or no home equity.


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