General World News

Indiana senator seeks information on HECM stability, calls for ‘congressional scrutiny’

The Home Equity Conversion Mortgage (HECM) program faces stability and viability challenges stemming from the 2022 collapse of a major industry lender and its extinguishment from the HECM-backed Securities (HMBS) program, which could warrant congressional scrutiny if these challenges are not properly addressed by the U.S. Department of Housing and Urban Development (HUD) and Ginnie Mae.

This is according to a letter obtained by RMD and submitted to Ginnie Mae President Alanna McCargo by Sen. Mike Braun (R-Ind.), the ranking minority member of the U.S. details ⇒

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