Alanna McCargo has been sworn in to become the 18th president of the Government National Mortgage Association, or “Ginnie Mae.”
GNMA
Alanna McCargo was confirmed by the U.S. Senate to become the first Ginnie Mae president since 2017.
The CFPB has joined an interagency memorandum aiming to ensure that financial services institutions take proper precautions for the impending transition away from the beleaguered LIBOR index.
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.
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.
Subscribe
Receive industry updates and breaking news from RMD