The biggest issuers of Ginnie Mae-backed securities tightened their grip on the market in November as jetpropelled issuances continue skyrocketing at firms like Norwest, Prudential and Fleet.

Led by Norwest Mortgage Inc.'s $1.6 billion--and yet unfinished--November, the top 1 0 Ginnie Mae issuers make up a whopping 43% of that market and appear poised to top the large volume figures many of them posted last year (see charts, Pages 4 and 5).

Controlling 12.6% of the November market so far, Norwest, headquartered in Des Moines, Iowa, tallied more than $1.6 billion in November Ginnie Mae issues, nearly as much as all of Margaretten & Co.'s (No. 14, Ginnie Mae Top 75 Volume Leaders, Page 5) 1993 originations, which are at just over $1.67 billion. Norwest's annual volume in Ginnie issues has reached nearly $14 billion and is on pace to surpass $15.8 billion by year-end.

Its total Ginnie issues for 1992 were just $3.1 billion.

An $812 million month in issues might normally attract a lot of attention. But despite being $12 million ahead of its October pace, and nearly $600 million ahead of No. 3 Fleet Mortgage in 1993 volume, Prudential Home Mortgage Co., Springfield, Ill., is still second fiddle some $7.8 billion behind front-running Norwest for the year.

Fleet Mortgage Corp., Milwaukee, the 10th-ranked Ginnie Mae issuer in 1992, raised its origination level to $5.3 billion from $1.5 billion through Nov. 17 and stands as the No. 3 originator for the year. Its Florence, S.C., cousin, Fleet Real Estate Funding Corp., ranked No. 7, up from No. 15 in 1992, issued $993 million in 1992 and has seen those figures climb to $3.8 billion in 1993. Combined, the corporations have issued $956 million so far in November and $9.1 billion for 1993.

No such cousin exists for Chemical Mortgage Co., though. But the Worthington, Ohio, lender has still amassed $4.9 billion in originations in 1993, up from $3.4 billion last year, and good enough for No. 4.

However, that position is not ensured because No. 5 Countrywide Funding, Pasadena, Calif., with $4.5 billion in 1993 issues, is close enough to surpass those totals, as is BancBoston Mortgage Corp. of Jacksonville, Fla., which has $4.3 billion in 1993.

The top ten are rounded out by Sears Mortgage Corp., which has issued $2.9 billion in 1993; Source One Mortgage Services, Farmington Hills, Mich., $2.4 billion; and GE Capital Mortgage Services, Cherry Hill, N.J., $2.1 billion.

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