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The US government got a slap of reality when S&P (Standard & Poors) downgraded the nation’s credit rating. How does this effect the secondary (investor) market for HECMs (reverse mortgages)?
The effect is anything but dire…in fact it’s had investors eyeing HMBS (HECM Mortgage Backed Securities) as a more attractive investment. It’s a short-term and modest gain for the secondary market of reverse mortgages in the wake of this historic change for our nation’s credit worthiness.