Ginnie Mae Halts Reverse-Mortgage Issuer Approvals

Ginnie Mae has suspended granting approvals to prospective issuers of reverse mortgages until it completes a “comprehensive review” of the risks associated with its HMBS program.

  • 19 Apr 2010
Ginnie Mae has suspended granting approvals to prospective issuers of reverse mortgages until it completes a “comprehensive review” of the risks associated with its HMBS program. HMBS are standardized mortgage-backed securities that will be collateralized by Federal Housing Administration-insured Home Equity Conversion Mortgage loans. Recent FHA program changes ...

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2 Rabobank 12.61
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1 Bank of America Merrill Lynch 18,561.02 56 11.69%
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