Looking to capitalize on the booming reverse mortgage market in Australia, Commonwealth Bank of Australia was hired by a non-bank to manage the sale of bonds backed by reverse mortgages. According to the Bloomberg article, the bonds will be sold in Australian and New Zealand dollars within six months, said Matthew Lever, senior manager of securitization […]
Category: GNMA
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 […]
Ginnie Mae issued a press release on Friday which reports that with the recent study published by HUD, they are confident that they have the information necessary to issue their first HECM Mortgage-Backed Security (HMBS) this year. The report issued by HUD analyzed 16 years of HECM loan level data. According to the press release, […]
“Reverse mortgages are on the verge of explosive growth” Ginnie Mae President Robert Couch I came across an article from SNLi that featured Ginnie Mae President Robert Couch discussing the future of the reverse mortgage market. He mentions that Ginnie Mae is in the process of putting together the first Home Equity Conversion Mortgage (HECM) […]
A few days ago Ginnie Mae released to the public that they will be securitizing reverse mortgage products in the near future. This is great news for the industry in general and I think you will be seeing more competition in the market because of it. A link to the full press release is below. […]
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