Following the submission of a letter by Indiana Sen. Mike Braun (R) to Ginnie Mae President Alanna McCargo about concerns related to the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program, McCargo’s predecessor, Ted Tozer, hopes the senator will dive deeper into the program’s mechanics and what led to the collapse of Reverse Mortgage Funding (RMF).

The late 2022 failure of RMF and the subsequent assumption of its reverse mortgage portfolio by Ginnie Mae were major concerns for Braun, which influenced his decision to inquire details ⇒

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