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« Liberty Reverse Mortgage Releases Preferred Jumbo Reverse Mortgage
Using a Reverse Mortgage to Fund Your Vacation Home »

Ginnie Mae’s Reverse Mortgage Presentation From MBA Conference

December 5th, 2007  |  by admin Published in GNMA, Products, Reverse Mortgage

GNMALogo At this years Mortgage Bankers Association in Boston, Ted B. Foster, Senior VP of Ginnie Mae presented on the new HMBS.  The presentation gives the best overview of the product for people in the industry that I’ve seen.   Foster lists the key features of the HMBS:

  • Collateralized by HECM loans.
  • Weighted Average Coupon (WAC) accrual pass-through bond.
  • Securitization of funded balances. An individual HECM loan can be securitized in multiple HMBS as they are funded over time.
  • Does not require external funding sources for future borrower draws.
  • Underlying collateral must have the same index and reset dates.

I learned more about the product from these 17 slides than all the other documentation I’ve read.  If you have any interest in GNMA’s reverse mortgage product definitely take a look.

Ginnie Mae’s Program to Securitize Government Insured Home Equity Conversion Mortgages

Technorati tags: Reverse Mortgage, Reverse Mortgage News, HECM, FHA, HUD, HMBS


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    Related Posts
  • Ginnie Mae HMBS Providing Liquidity To Reverse Mortgage Industry
  • Ginnie Mae Releases HECM Mortgage Backed Security Program
  • Ginnie Mae Plans To Roll Out First Bond Issue Backed By Reverse Mortgages As Soon As Today


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