Reverse Mortgage Securities Hit October Rebound, HMBS Total $690 Million

Reverse mortgage securities issuance rebounded to the second-highest monthly level they have seen all year, following lackluster performance in 2014 compared to past years, according to the latest Home Equity Conversion Mortgage Backed Securities (HMBS) issuance data from Ginnie Mae, analyzed by New View Advisors.  On a monthly basis, HMBS issuance ticked up as issuers […]

Friday Round-Up: Reverse Mortgages High on CFPB Radar

In case you missed it, here’s what happened in reverse mortgage news this week: Mortgage Originations Expect 7% Hike in 2015—The next year bodes well for mortgage originations, according to the Mortgage Bankers Association, which forecasts $1.19 trillion in originations in 2015. Refinance activity in the next year is a different story.  Investopedia: 5 Financial […]

Reverse Mortgage Securities Issuance Continues Year-over-Year Decline

Reverse mortgage securities issuance fell below $500 million in September—just one of four monthly tallies over the last five years to fall to such a level. The monthly total for September was $498 million in issuance of Home Equity Conversion Mortgage-backed securities (HMBS), according to analysis conducted by financial services firm New View Advisors. “Newly […]

Ginnie Mae to Roll Out New Issuer Requirements, Policies

After just short of two months since being sworn in as the new chief for the Department of Housing and Urban Development, Secretary Julián Castro is outlining plans to rework the way Ginnie Mae operates. In a second-annual summit held in Washington around the Government National Mortgage Association—the sole securitizer of Home Equity Conversion Mortgages—Castro spoke […]

Reverse Mortgage Securities Signal Short-Term Volume Growth

After hitting a low monthly total in July, Home Equity Conversion Mortgage-backed securities (HMBS) have rebounded in August to their third-largest monthly issuance this year, according to the latest commentary from New View Advisors. Last month, HMBS issuers created $518 million in new HMBS pools comprising a total of 91 pools issued, which consisted of 46 original […]

Friday Round-Up: NBS Case Update, Reverse Mortgage Volume’s Silver Lining

In case you missed it, here’s what happened in reverse mortgage news  this week: Court Rules on Additional Non-Borrowing Spouse HUD Case—A U.S. District Court issued a memorandum opinion expressing whether certain initiatives set forth by the Department of Housing and Urban Development in its handling of two non-borrowing spouse cases could be considered as […]

Live Well Acquires $531 Million Reverse Mortgage Portfolio, Adds NYC Trading Desk

Live Well Financial announced Tuesday that it has acquired a bulk portfolio of Ginne Mae guaranteed bonds from an unnamed seller, which includes HREMIC Securities comprised of $531 million in notional balances. Following the announcement of the transaction, which settled in late August, the company also said it has hired a New York City-based group […]

Bloomberg: Ginnie Mae May Up Issuer Requirements

As nonbank companies become more commonplace versus traditional banks in the mortgage market, Ginnie Mae (NASDAQ:GNMA) is evaluating whether the government-backed agency’s issuers have enough easy-to-sell assets to survive in times of distress, Bloomberg reports. Ginnie Mae, which is the only securitizer of Home Equity Conversion Mortgages (HECMs), may increase liquidity requirements for the firms that issue and […]

Ginnie Mae Set To Go Electronic for Issuer Applications

Ginnie Mae will soon accept electronic applications from prospective issuers electronically, the company announced Wednesday. Beginning September 1, 2014, applicants must submit issuer applications via Ginnie Mae’s electronic Application Connection portal, moving away from the paper-based application process of the past. Paper applications will no longer be accepted after July 31, the company said. Applicants […]

HUD Invites Comments on Fixed-Rate Reverse Mortgage Insurance Halt

Three weeks following its ruling to halt insurance of certain Home Equity Conversion Mortgages (HECMs) that allow future draws against the principal limit at a fixed-rate, the Department of Housing and Urban Development (HUD) is now inviting public commentary on the decision. A notice published Thursday in the Federal Register encourages interested persons to submit comments, […]