Sam Valverde, the acting president of Ginnie Mae, has overseen the work the government-owned company is currently engaging in to better improve the liquidity situation for the companies involved in the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program. These include efforts to establish an additional HECM-backed Securities (HMBS) instrument to complement what is currently available.

Dubbed “HMBS 2.0,” the forthcoming program’s development was initially announced early this year before Ginnie Mae released a more detailed term sheet over the summer. details ⇒

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