Reverse Mortgage Securitization Moves Beyond Needs Based Seniors
October 30th, 2009 | by admin Published in FHA, GNMA, News, Reverse Mortgage | 2 Comments
Housingwire sat in on a reverse mortgage securitization session at the Information Management Network’s 15th annual ABS East conference in Miami and writes that over the last two years the structure has moved beyond the needs-based senior and now see a significant mix of borrowers tapping into the market.
According to HW, panelists said that the reverse mortgage market shifted into into a more fluid product with the share of assets being collateralized growing from modest to more affluent. This year alone, the percentage of owners with homes valued at above $400,000 is increasing to up to 39% of the reverse mortgage claims in some markets.
Securitization of HECMs has skyrocketed over the last year, Ginnie Mae has seen issuance volume of its HMBS product rise from $1.042 billion in FY 2008 to $5.1 billion in FY 2009.
- Related Posts
- Ginnie Mae Issues $1.2 Billion of Reverse Mortgage MBS
- Ginnie Mae Sets Record With Reverse Mortgage MBS
- Ginnie Mae HMBS Volume Jumps in February
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October 30th, 2009 at 6:28 pm (#)
Admin,
Sometimes things that seem readily apparent still need confirmation. Although, there are no doubt regional differences, providing this information is very helpful.
October 31st, 2009 at 1:28 am (#)
Admin,rnrnSometimes things that seem readily apparent still need confirmation. Although, there are no doubt regional differences, providing this information is very helpful.