Today the Wall Street Journal announced that Ginnie Mae plans to roll out as soon as today what it’s calling the first “standardized” bond issue backed by reverse mortgages.  The offering is expecting to total about $120 million, consists of more than 1,000 government insured reverse mortgages. 
Ted Foster, senior vice president for mortgage-backed securities at […]

On September 1st, Ginnie Mae officially released their HECM Mortgage Backed Security (HMBS) program.  Ginnie Mae’s HMBS are standardized mortgage-backed securities (MBS), which are collateralized by FHA insured HECM loans.  The HMBS is a new class of Ginnie Mae security backed by HECM loan participation’s under the umbrella of the Ginnie Mae II Custom […]

Looking to capitalize on the booming reverse mortgage market in Australia, Commonwealth Bank of Australia was hired by a non-bank to manage the sale of bonds backed by reverse mortgages.  According to the Bloomberg article, the bonds will be sold in Australian and New Zealand dollars within six months, said Matthew Lever, senior manager of securitization […]

A few days ago NRMLA posted a copy of the HECM MBS reference guide from Ginnie Mae.  The HMBS reference guide is intended to inform interested parties about Ginnie Mae’s HMBS program requirements, HMBS pool origination, ongoing HMBS administration and accounting, security reporting, and monthly reporting requirements. I haven’t had a chance to go through the entire 79-page document […]

Ginnie Mae issued a press release on Friday which reports that with the recent study published by HUD, they are confident that they have the information necessary to issue their first HECM Mortgage-Backed Security (HMBS) this year. The report issued by HUD analyzed 16 years of HECM loan level data. According to […]