It was hoped that Ginnie Mae’s new HMBS 2.0 (a revamped HECM mortgage-backed securities program) would be released in 2024. This week an update on the HMBS 2.0 program’s progress and the role MBS play in reverse mortgage lending.
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Recently the Mortgage Bankers Association floated a proposal for Ginnie Mae to create a new mortgage-backed security program that would boost liquidity for which the agency’s new HMBS 2.0 program could serve as a template.
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The reverse mortgage news round-up, HMBS 2.0 feedback, and HighTech Lending’s new wholesale brand name.
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While reverse mortgages have been in India for nearly 15-years, the program, not unlike the United States, has not gained widespread acceptance and faces similair misconceptions.
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Wendover Consulting and Portfolio 360 entered into a strategic marketing alliance to provide portfolio valuation and due-diligence services to the reverse mortgage industry.
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Mike Kent, senior VP of lending at RMS, sat down with me in Boston at the annual NRMLA meeting and discussed our technology, investor markets and industry outlook.
HUD’s now suing Wells Fargo & Fannie Mae for their foreclosing on reverse mortgage borrowers. Did HUD open Pandora’s box with their recent mortgagee letter?
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