Ginnie Mae Announces New Servicing and Issuer Application Rules

The Government National Mortgage Association, or Ginnie Mae, announced this month that it is implementing new evaluation rules that analyze the credit strength of new issuers, and implements new notification requirements for issuers engaged in certain subservicer advance or servicing income agreements. The new rules act to, “[codify] Ginnie Mae’s ability to impose additional financial […]

AAG, RMF, FAR Top List of Reverse Mortgage Securities Issuers

Some familiar names finished 2017 atop the Home Equity Conversion Mortgage-backed securities (HMBS) leaderboard, and a newcomer claimed the sixth spot in its first year in the marketplace. American Advisors Group issued 233 loan pools for a total of $2.3 billion in 2017, taking the crown with 21.9% market share according to the most recent […]

Ginnie Mae Official Issues Warning About HECM-to-HECM Refinances

Ginnie Mae is actively working with the Veterans Affairs lending community to stop predatory refinancing, according to a top official — and the reverse mortgage industry could find itself under similar scrutiny if the government corporation sees signs of similar behavior. Speaking at the National Reverse Mortgage Lenders Association’s annual conference in San Francisco this […]

Longbridge Receives Ginnie Mae HMBS Issuer Approval

Longbridge Financial, LLC has received approval from Ginnie Mae to issue Home Equity Conversion Mortgage-backed securities, the company announced Friday. The Mahwah, N.J.-based originator was formally given the go-ahead before the long Memorial Day weekend, Longbridge CEO Chris Mayer told RMD, after first applying in October of last year. Longbridge plans to issue its first […]

Friday Round-Up: Hottest Reverse Mortgage Markets, Top HMBS Issuers

Welcome to yet another Friday. Only a few hours stand between you and the weekend. So if you’re planning on making a last-ditch effort to cobble together a costume for this weekend’s spooky festivities, or just going to take it easy at home, before you take off check out the most popular reverse mortgage news […]

Reverse Mortgage Funding Passes AAG as Top HMBS Issuer in 2016

With three quarters of 2016 now in the books, issuance of Home Equity Conversion Mortgage-backed securities (HMBS) totaled more than $6.9 billion year-to-date through September, and the rankings are in for the top HMBS issuer on the year thus far, according to the latest commentary from New View Advisors. HMBS issuance volume totaled $6.922 billion for […]

HREMIC Issuance Tops $7.7 Billion, On Pace for Record Year—Again

Through the first nine months of 2016, HREMIC issuance was nearly $7.7 billion, exceeding last year’s volume—a previous record—of $6.5 billion during this same period, according to the latest market commentary from New View Advisors. With three-quarters of the year already in the books, the industry remains on pace to set its second consecutive annual […]

Seasoned Reverse Mortgages Push August HMBS to 2016 High

Issuers of Home Equity Conversion Mortgage-backed securities (HMBS) created approximately $996 million in new HMBS pools during August 2016, marking the highest total seen this year, according to the latest commentary from New View Advisors. On a monthly basis, August’s HMBS issuance total grew 41% from July’s $704 million, and 36% from $730 million reported […]

Issuance of Reverse Mortgage-Backed Securities Tops $857 Million in May

Ginnie Mae-approved issuers of HECM mortgage-backed securities (HMBS) created approximately $857 million in new HMBS pools during May, a month that featured a “weak” tally in original pools mitigated by seasoned pool issuance, according to the latest New View Advisors commentary. May’s HMBS issuance exceeded April’s $775 million, but remained below its year-ago level of $874 […]