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 […]
Category: GNMA
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 […]
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 […]
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 […]
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 […]
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 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 […]
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 […]
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 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 […]
