The White House on Monday announced several new nominations including for two key positions at HUD, one of which has not had a permanent head since 2017.
GNMA
The Alternative Reference Rates Committee (ARRC) announced that it it is formally recommending SOFR term rates following the completion of a key change in interdealer trading conventions in July., though the reverse mortgage industry requires FHA action.
A Ginnie Mae SVP discusses some of the headwinds being faced by the reverse mortgage-backed securities space, and what they say about the general health of the reverse mortgage industry now and potentially into 2022.
Reverse Mortgage Investment Trust CFO Tim Isgro describes how various changes handed down to the reverse mortgage program in recent years has affected the strength of the industry, and the confidence of investors.
Members of NRMLA’s executive committee offered an update for the reverse mortgage industry’s efforts to move away from the LIBOR index, and toward the preferred SOFR index for adjustable-rate reverse mortgages.
Former Deputy HUD Secretary Brian D. Montgomery has helped to found a new housing policy consultancy firm with other former government housing staffers, with expertise in matters including financial services, forward and reverse mortgage lending/servicing, community development, and public housing sectors
LIBOR’s primary regulator has laid out the index’s definitive endgame, a move lauded by the reverse mortgage trade association but which still awaits action from FHA for the industry.
The end of the London Interbank Offered Rate (LIBOR) index, slated for the end of this year, requires urgent action and collaboration between the public and private sectors. Though LIBOR has previously been described by financial analysts as “the world’s most important number,” there is some limitation to its reach. That does not diminish the […]
Now that we’ve all opened presents and sang our renditions of “Auld Lang Syne,” it’s time to get back to work. The reverse mortgage industry is on the cusp of another eventful year in 2021 because of a lot of different components including changes to the Home Equity Conversion Mortgage (HECM) lending limit, a new […]
This week, the Government National Mortgage Association (GNMA, or “Ginnie Mae”) announced that it had delayed a previously-declared January 1, 2021 restriction on the eligibility of Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) for adjustable rate loans operating off of the London Interbank Offered Rate (LIBOR) index to March 1, 2021. The delay for originators […]
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