Ginnie Mae hasactually taken a far more active function in the reverse homemortgage market over the past 2 years, stemming from the failure of a significant market loanprovider that threatened liquidity for other significant gamers in the area. The government-owned business has long supervised the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program, through which reverse homemortgages are securitized and offered to financiers.
While current market liquidity obstacles were veryfirst attendedto under the management of previous Ginnie Mae president Alanna McCargo, the business’s acting president, Sam Valverde, is presently charged with management duties. These consistof the ultimate execution of “HMBS 2.0,” a complementary program that the market is looking at with fantastic interest.
To get an concept of where things stand with Ginnie Mae’s current reverse homeloan activity, HousingWire’s Reverse Mortgage Daily (RMD) sat down with Valverde for an special interview.
Small size, huge significance
When asked about his own interactions with the reverse homeloan program and some of the efforts he is supervising, Valverde acknowledged the significance of the program in conference the business’s objective.
, the <strong>U.S. Department of Housing and Urban Development</strong> (HUD) broadly, an</p>
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