Staffing cuts at Ginnie Mae could table or delay the rollout of a complementary reverse mortgage securities program announced last year, according to an interview with a former Ginnie Mae official who requested anonymity out of fear of retaliation and reports of staff cuts by multiple outlets.

But a source familiar with HUD’s plans disputed such reports, saying that suggestions of “drastic staffing cuts” at Ginnie Mae were false.

One of Ginnie Mae’s core functions in the reverse mortgage industry is providing liquidity through its Home Equity Conversion Mortgage (HECM)-backed Securities (details ⇒

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