The reverse mortgage industry, in consultation with federal agencies and industry stakeholders, is taking active steps to prepare for the sunset of the London Interbank Offered Rate (LIBOR) index, which is scheduled to end in 2021. Work between capital markets experts, the Department of Housing and Urban Development (HUD), the Government National Mortgage Association (GNMA, […]
The Government National Mortgage Association (GNMA, or “Ginnie Mae”) Executive Vice President and Chief Operations Officer Maren Kasper will be stepping down on October 18 for a new position in the private sector, according to a late Thursday press release issued by the organization. Kasper was previously appointed as acting president in the aftermath of […]
Both the Government National Mortgage Association (GNMA, or “Ginnie Mae”) and the Department of Housing and Urban Development (HUD) have discussed how to implement a change to their rate index, moving away from the current London Inter-bank Offered Rate (LIBOR) standard. This was an element of a presentation made by Michael Drayne, SVP at the […]
The Government National Mortgage Association (GNMA), also known as Ginnie Mae, announced on Thursday that mortgage securities backed by Home Equity Conversion Mortgages (HECMs) can now make use of a new “platinum” securities execution: the Home Equity Conversion Mortgages Backed Security (HMBS) Platinum securitization channel. This option, “eases the administrative costs of holding multiple (and […]
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 […]
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 […]
The Department of Housing and Urban Development made a major announcement about the health of the federally backed reverse mortgage program, and the industry convened in San Francisco for its flagship annual convention. It was a busy week in the world of Home Equity Conversion Mortgages, so check out RMD’s handy all-in-one guide to the […]
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 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 […]
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 […]
