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GNMA

Ginnie Mae to “Triage” Application Backlog, Push Lenders Through

May 7th, 2012  |  by Elizabeth  |  published in GNMA, News, Reverse Mortgage

Ginnie Mae may be putting an end to the approval dry spell lender-applicants have seen of late. At least it appears to be making a solid effort. In speaking with mortgage bankers Monday, Ginnie Mae president Ted Tozer said the agency is making moves to “triage” its application “problem” after finding that about half of [...]


Did Your Loans Start With a TPO? Ginnie Mae Requires New Data From Issuers

May 7th, 2012  |  by Elizabeth  |  published in GNMA, News, Reverse Mortgage

Ginnie Mae mortgage-backed securities issuers will begin to require loan-level data for single family loan pools beginning in September. The new guidance does not include HMBS pools, a Ginnie Mae spokeswoman told RMD. It will apply to all other Ginnie Mae MBS pools. Through an All Participants Memorandum issued this week, GNMA said it will [...]


Ginnie Mae Reverse Mortgage HMBS on the Upswing in 2012

April 18th, 2012  |  by Elizabeth  |  published in GNMA, News, Reverse Mortgage

After seeing a decline in late 2011, Ginnie Mae HMBS issuance is showing a steady rebound into 2012, with the most recently monthly issuance totaling $882 million. In late 2011, issuance of Ginnie Mae pools had fallen to less than $600 million monthly, with November and December totaling $563 million and $599 million, respectively. Upon [...]


Taking the Secondary Market for Reverse Mortgages Into the Mainstream

March 5th, 2012  |  by Elizabeth  |  published in GNMA, News, Reverse Mortgage

The investor market for reverse mortgages may have seen a demand surge in the near term due to market dynamics beyond the control of the insular HECM industry. But the secondary market isn’t likely to gain the long-term attention of mainstream investors until the reverse mortgage market takes off itself. Heading into 2012, investor demand [...]


Will New Ginnie Mae HMBS Issuers Step Up to the Plate?

February 8th, 2012  |  by Elizabeth  |  published in GNMA, News, Reverse Mortgage

In January, reverse mortgage lender Live Well Financial announced it had received approval to issue Ginnie Mae HECM Backed Mortgage Securities after a three-year-plus wait time. With the landscape for issuers having changed in recent months, is the timing of the approval a coincidence with two of the large HMBS issuers quitting the reverse mortgage [...]


Moody’s Downgrades $5 Billion in Reverse Mortgage Bonds

November 28th, 2011  |  by Elizabeth  |  published in GNMA, News, Reverse Mortgage

Moody’s announced last week the downgrades of $5 billion in reverse mortgage bonds comprising 12 deals. The 16 securities remain on review for further downgrade, Moody’s said, citing falling home prices and longer liquidation timelines. The deals were structured to include some potential losses and the downgrades now reflect a greater loss expectation. “Falling home [...]


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