The Government National Mortgage Association (Ginnie Mae) announced that it guaranteed more than $917 million of reverse mortgage MBS (HMBS) in October.

“Ginnie Mae – whose securities carry the full faith and credit of the U.S. government – has been quick to modify and create securitization products that provide additional liquidity to help stabilize the U.S. housing market,” said Thomas R. Weakland, Ginnie Mae’s Acting Executive Vice President. “And for the past 11 months we’ve consistently shown – with industry-wide low Single-Family delinquency rates – that our conservative approach to risk-taking is working for U.S. taxpayers.”

This entry was posted on Friday, November 13th, 2009 at 12:29 pm and is filed under Reverse Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.