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 […]

Record Tail Issuance Drives October’s Reverse Mortgage Securities

Issuers of Home Equity Conversion Mortgage mortgage-backed securities (HMBS) created $789 million in new HMBS pools during October, driven by a record tail issuance of $291 million and some rekindled activity from Wells Fargo, according to the latest commentary from New View Advisors. The record tail issuance includes two pools totaling nearly $100 million issued […]

Reverse Mortgage Securities Issuance Rises Pending Short-Term Decline

Despite uncertain production figures to date following the most recent change in reverse mortgages—the financial assessment—Home Equity Conversion Mortgage-Backed Security (HMBS) issuance remained strong in June. Issuers produced $845 million in HMBS product during the month; a total that rivals only May for the greatest monthly issuance since November 2013, according to data compiled by New […]

HREMIC Issuance Poised to ‘Smash’ Record $6 Billion Year

At $4.27 billion for the first six months of 2015, HREMIC issuance is already at 85% of 2014’s full-year issuance of $5.05 billion, and is expected to surpass 2012’s record $6 billion of issuance, according to the latest Ginnie Mae data compiled by New View Advisors.  Fifteen transactions underwritten by three sponsors — Nomura, Bank […]