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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