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 yet, but this is a good indicator that GNMA is on track to issue the first HMBS in September. To read a copy of the guide click the link below.
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When does it look like Ginn Mae may accept manufactured homes in their program for fixed. I personally have several people with new mfg homes wanting the fixed rate, it makes a huge difference in “cash to close” or making the transaction work for senior's.
When does it look like Ginn Mae may accept manufactured homes in their program for fixed. I personally have several people with new mfg homes wanting the fixed rate, it makes a huge difference in “cash to close” or making the transaction work for senior’s.