Ted Tozer, former president of Ginnie Mae during the Obama administration and current president Alanna McCargo’s most recent Senate-confirmed predecessor, applauded the news that the company is looking into the development of a new Home Equity Conversion Mortgage (HECM)-backed Security (HMBS) product.

Announced earlier this week as a part of a broader effort to introduce more liquidity into reverse mortgage-backed securities, the new product would enable the acquisition of loans from an HMBS pool above the existing 98% maximum claim amount (MCA) requirement. The company is exploring the product development due to “continued liquidity constraints in the reverse mortgage details ⇒

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