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 […]

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 […]

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 […]

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 […]

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 […]

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, […]