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 […]

Ginnie Mae to Start Stress Testing Issuers

Ginnie Mae already has plans set in place to monitor its issuers’ operations, but they plan to take it to the next level, according to an article published this week on National Mortgage News. In hopes of troubleshooting more effectively in the future, the plan is to model how the liquidity of companies that issue […]

Reverse Mortgage Interest Rate Caps Spell Trouble for Secondary Market

The Federal Housing Administration last week proposed several new rules for the Home Equity Conversion Mortgage (HECM) program, including interest rate caps on adjustable-rate reverse mortgages. But while FHA asserts these new changes will benefit HECM borrowers, industry members say this proposal could adversely impact the secondary market. FHA’s set of proposed rules largely aim […]

Friday Round-Up: HUD, Ginnie Mae Tease Plans for Reverse Mortgages

Congrats on making it to another Friday—the weekend is in sight! A lot has occurred in the past seven days, but in case you missed it, here’s what happened in reverse mortgage news this week: New Rule Offers Opportunities for Reverse Mortgage, Financial Planner Relationships—On Wednesday, the Department of Labor released its final rule amending the […]

Ginnie Mae Plans to Enhance HMBS Program for Reverse Mortgage Lenders

Ginnie Mae currently has several initiatives in the works that it believes will help open the door to more reverse mortgage lenders participating in the issuance of HECM mortgage-backed securities (HMBS), according to one senior agency official. Growth in the reverse mortgage industry can mean many things. In the secondary market, growing the HECM market […]

Reverse Mortgage Index Shows Steady Draw Rates Heading into 2016

Both monthly and annual adjustable Home Equity Conversion Mortgages (HECMs) reported steady draw rates in January consistent with previous months, according to the latest Reverse Mortgage Draw Index issued by New View Advisors this week. The Index, which New View Advisors compiled using publicly available Ginnie Mae data as well as private data sources, shows […]

Liberty Hires Dennis Loxton as Division Sales Manager

Top-10 reverse mortgage industry lender Liberty Home Equity Solutions, Inc. this week announced the hiring of Dennis Loxton, CFP, CRMP, as its newest Division Sales Manager. Loxton, whose addition to Liberty became effective December 14, 2015, will oversee the company’s Southeast Retail Field Region. Formerly the Regional Vice President at 1st Financial Reverse Mortgages, Loxton […]

Ginnie Mae Reverse Mortgage Issuance Reaches New Normal in Post-FA Era

After a “record-smashing” November, issuance of Ginnie Mae Home Equity Conversion Mortgage mortgage-backed securities (HMBS) normalized in December as the HMBS market continues adjusting to the post-Financial Assessment era, according to the latest commentary from New View Advisors. Issuers created approximately $685 million in new HMBS pools last month, substantially less than November’s $1.2 billion […]