Origination News is reporting that warehouse lenders speaking at the Mortgage Bankers Association’s National Secondary Market Conference were bullish on funding HECM loans.
HECMs are a nice piece of business for Texas Commercial Bank, said Jack Nunnery, senior vice president of the bank. He said Texas Commercial is committed to providing financing for those loans, as reported by Origination News. He also noted that liquidity is good in the marketplace for reverse mortgage loans and that secondary market execution is coming back to a level of normalcy.
Another conference speaker, Elaine Batlis, senior vice president, warehouse lending manager at Silvergate Bank, said there are a number of strong secondary market investors for HECMs, which makes them a good product from a warehouse lender perspective. According to the Origination News report, during her presentation, Batlis said that for any loan product originated, warehouse lenders would like to see lenders have multiple exit strategies.
The MBA secondary market conference is going on this week in New York City.
Read the Origination News article.
Written by Elizabeth Ecker