June 24th, 2009 |
by John |
published in
FHA, GNMA, News, Reverse Mortgage
The Government National Mortgage Association announced that it posted $38.98 billion in total mortgage-backed securities issuance in May. For the first five months of calendar year 2009, Ginnie Mae provided approximately $163 billion of liquidity to the secondary market, compared to nearly $80 billion for the first five months of 2008.
"Our MBS program is […]
June 15th, 2009 |
by John |
published in
GNMA, Generation Mortgage, Lenders, News, Reverse Mortgage
Generation Mortgage announced to its brokers that is in the process of working out the details in order to offer a competitive fixed rate HECM utilizing Ginnie Mae’s HECM MBS product.
Currently the product is available to a select group of brokers in order to fulfill its commitments to Ginnie Mae, but they plan […]
May 14th, 2009 |
by John |
published in
GNMA, News, Reverse Mortgage
The Government National Mortgage Association (Ginnie Mae) announced earlier this week that it issued $34.5 billion in total mortgage-backed securities (MBS) in April. For the first four months of calendar year 2009, Ginnie Mae provided $124.18 billion of liquidity to the secondary market, compared to $58 billion for the first four months of 2008.
"We […]
April 30th, 2009 |
by John |
published in
GNMA, News, Reverse Mortgage
The Pittsburgh Post Gazette wrote earlier this week that Ginnie Mae President, Joesph Murin is urging homeowners to take advantage of mortgage rates near 60-year lows by refinancing. He feels that reports of rampant foreclosure problems in Michigan, Ohio, Florida and other troubled housing markets have given people a dimmer view of the economy […]
January 5th, 2009 |
by John |
published in
GNMA, News, Reverse Mortgage
Any serious expansion of reverse mortgage production in 2009 and beyond will require increased investor support, and not just from buyers with a direct line to the U.S. Treasury. Since its inception, reverse mortgage financing has been a one-note song, with funds coming almost entirely through Fannie Mae and the HECM (Home Equity Conversion […]
October 24th, 2008 |
by John |
published in
GNMA, Lenders, News, Reverse Mortgage, Sun West
During a time when credit markets are hurting, Ginnie Mae continues to provide liquidity to reverse mortgage lenders. Last month Cerritos, California based Sun West Mortgage completed an issuance of $120 million in HECM Mortgage Backed Securities (HMBS). The three HMBS pools comprised of Libor HECM, CMT HECM and Fixed-Rate HECM reverse mortgage products, respectively, […]