Working in coordination with the Servicing Committee and HMBS Issuers Committee, NRMLA submitted two sets of comments, one to the Department of Housing and Urban Development and another to Ginnie Mae.
HUD posted a draft Mortgagee Letter to its Drafting Table in mid-July that proposed changes to how it calculates payment of debenture interest on HECM claims.
On June 27, Ginnie Mae published a draft term sheet for its proposed HECM Mortgage-Backed Securities (HMBS) 2.0 program.
- Comments for both proposals were due this week.
- The Mortgage Bankers Association co-signed the HMBS 2.0 comment letter.
Why it matters: Both proposals will help alleviate ongoing liquidity constraints that have impacted mortgagees while improving the long-term financial health of the HECM program.
