Ginnie Mae’s complementary Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program, dubbed “HMBS 2.0,” released a final term sheet in November which proved to be the final major policy work of former acting Ginnie Mae President Sam Valverde prior to his departure from the company.
It has been roughly one year since Ginnie Mae announced it was looking into the development of a supplemental HMBS program to address industry liquidity issues stemming from the 2022 collapse of a major reverse mortgage lender. Policy work details ⇒
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