{"id":57882,"date":"2024-07-09T03:03:59","date_gmt":"2024-07-09T01:03:59","guid":{"rendered":"https:\/\/housesmarketplace.com\/nrmla-president-talks-hmbs-2-0-term-sheet-and-its-potential-impact\/"},"modified":"2024-07-09T03:03:59","modified_gmt":"2024-07-09T01:03:59","slug":"nrmla-president-talks-hmbs-2-0-term-sheet-and-its-potential-impact","status":"publish","type":"post","link":"https:\/\/housesmarketplace.trio-tv.com\/ru\/nrmla-president-talks-hmbs-2-0-term-sheet-and-its-potential-impact\/","title":{"rendered":"\u041f\u0440\u0435\u0437\u0438\u0434\u0435\u043d\u0442 NRMLA \u0440\u0430\u0441\u0441\u043a\u0430\u0437\u044b\u0432\u0430\u0435\u0442 \u043e \u043f\u0435\u0440\u0435\u0447\u043d\u0435 \u0443\u0441\u043b\u043e\u0432\u0438\u0439 HMBS 2.0 \u0438 \u0435\u0433\u043e \u043f\u043e\u0442\u0435\u043d\u0446\u0438\u0430\u043b\u044c\u043d\u043e\u043c \u0432\u043b\u0438\u044f\u043d\u0438\u0438"},"content":{"rendered":"<div>\n<p>At the <a href=\"https:\/\/www.housingwire.com\/tag\/nrmla\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>National Reverse Mortgage Lenders Association<\/strong><\/a> (NRMLA) Eastern Regional Meeting in May, Acting <a href=\"https:\/\/www.housingwire.com\/tag\/ginnie-mae\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Ginnie Mae<\/strong><\/a> President Sam Valverde said that the government-owned company <a href=\"https:\/\/www.housingwire.com\/articles\/ginnie-mae-eyes-year-end-for-new-hmbs-product\/\" target=\"_blank\" rel=\"noreferrer noopener\">planned to release<\/a> a term sheet for a newly proposed Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program sometime in the next month.<\/p>\n<p>After the industry\u2019s secondary market was rocked by the <a href=\"https:\/\/www.housingwire.com\/articles\/inside-the-collapse-of-rmf-americas-fifth-largest-reverse-mortgage-lender\/\" target=\"_blank\" rel=\"noreferrer noopener\">collapse<\/a> of <strong>Reverse Mortgage Funding<\/strong> (RMF) in 2022, Ginnie Mae went to work in an effort to bring more stability to the reverse mortgage program by engaging directly with the industry. The result was a January 2024 <a href=\"https:\/\/www.housingwire.com\/articles\/ginnie-mae-to-explore-new-reverse-mortgage-backed-security-product\/\" target=\"_blank\" rel=\"noreferrer noopener\">announcement<\/a> of the program, referred to as \u201cHMBS 2.0.\u201d<\/p>\n<p>To get a better understanding of how NRMLA views the potential implications, <strong>HousingWire<\/strong>\u2019s Reverse Mortgage Daily (RMD) sat down with NRMLA President Steve Irwin.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-optimism-abounds\">Optimism abounds<\/h2>\n<p>Immediately when asked about the mood at the association, Irwin said that \u201cthere is industry optimism around the recent request for comment on the proposed term sheet out of Ginnie Mae.\u201d<\/p>\n<p>While the announcement was somewhat expected given the timeframe Valverde detailed at the association\u2019s event, that expectation did not mitigate the welcoming feeling that Irwin and others at NRMLA felt once the term sheet was released, he said.<\/p>\n<figure class=\"alignright size-large is-resized\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" width=\"400\" height=\"469\" data-attachment-id=\"386627\" data-permalink=\"https:\/\/www.housingwire.com\/trade-desk\/nrmla-steve-irwin\/\" data-orig-file=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2023\/05\/NRMLA-Steve-Irwin.jpg\" data-orig-size=\"400,469\" data-comments-opened=\"1\" data-image-meta='{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\"}' data-image-title=\"NRMLA-Steve-Irwin\" data-image-description=\"&lt;p&gt;Steve Irwin, president of the National Reverse Mortgage Lenders Association (NRMLA).&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Steve Irwin&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2023\/05\/NRMLA-Steve-Irwin.jpg?w=256\" data-large-file=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2023\/05\/NRMLA-Steve-Irwin.jpg?w=400\" src=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2023\/05\/NRMLA-Steve-Irwin.jpg?w=400\" alt=\"Steve Irwin, president of the National Reverse Mortgage Lenders Association (NRMLA).\" class=\"wp-image-386627\" style=\"width:200px\" srcset=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2023\/05\/NRMLA-Steve-Irwin.jpg 400w, https:\/\/www.housingwire.com\/wp-content\/uploads\/2023\/05\/NRMLA-Steve-Irwin.jpg?resize=128,150 128w, https:\/\/www.housingwire.com\/wp-content\/uploads\/2023\/05\/NRMLA-Steve-Irwin.jpg?resize=256,300 256w\" sizes=\"(max-width: 400px) 100vw, 400px\"><figcaption class=\"wp-element-caption\">Steve Irwin<\/figcaption><\/figure>\n<p>\u201cWe were expecting it. Acting Ginnie Mae President Sam Valverde had indicated that in June they were hoping to publish something for public comment, and we are delighted that it\u2019s now out in the marketplace,\u201d Irwin said. \u201cWe are actively reviewing it. We\u2019re gathering our HMBS Issuers Committee here at NRMLA in the next couple of days to step through it and develop any comments that may be required.\u201d<\/p>\n<p>As for the content of those comments, Irwin said first and foremost will be an expression of gratitude.<\/p>\n<p>\u201cWe know how limited their resources are at Ginnie Mae, and I think this speaks volumes to their dedication to the mission of the HECM program and its importance, not only to HUD but to Ginnie Mae as well.\u201d<\/p>\n<p>Ginnie Mae has detailed multiple times over the past couple of years that its <a href=\"https:\/\/www.housingwire.com\/articles\/ginnie-mae-president-talks-reverse-mortgage-environment-federal-challenges-in-rmd-exclusive\/\" target=\"_blank\" rel=\"noreferrer noopener\">resources have been strained<\/a> by its assumption of the former RMF servicing portfolio, which remains one of the largest HMBS portfolios in the program despite Ginnie Mae itself not issuing any pools from it. The detail intensity of the HMBS program has required Ginnie to bolster its staffing to handle the portfolio and to <a href=\"https:\/\/www.housingwire.com\/articles\/ginnie-mae-seeks-budget-increase-to-manage-sizable-reverse-mortgage-portfolio\/\" target=\"_blank\" rel=\"noreferrer noopener\">request additional funds<\/a> from Congress in the next fiscal year.<\/p>\n<p>But overall, the industry has welcomed this development, and NRMLA\u2019s HUD Issues Committee will develop more robust comments once it has time to adequately digest the full implications of the term sheet, Irwin explained.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-some-surprises-collaboration\">Some surprises, collaboration<\/h2>\n<p>When asked about whether or not the term sheet as released contained any surprises, Irwin said that it did but did not want to jump the gun on comments the association plans to submit directly to Ginnie Mae. But any presence of an unexpected provision did little to dampen the generally positive response that NRMLA had to the release of the term sheet.<\/p>\n<p>When asked about how the association\u2019s members will come together to draft comments on Ginnie Mae\u2019s proposals, Irwin emphasized the way NRMLA can bring reverse mortgage companies from across the industry together at the table to hash out any perspectives and potential differences they may have.<\/p>\n<p>\u201cAs with any of our committee processes, there is deliberation, collaboration and discussion among competitors, which is exciting and interesting to witness,\u201d Irwin said. \u201cGetting consensus on issues and sticking points is generally easy, as they tend to be similar across market participants.\u201d<\/p>\n<p>Irwin explained that most committee members generally have an eye for the furtherance of the industry and do not tend to linger on points of disagreement for too long.<\/p>\n<p>\u201cOne aspect of our committee structure is that consensus is gained quickly and fairly easily,\u201d he said. \u201cTypically, reactions, responses, compiled comments, and submissions are done for the greater good, rather than from an individual corporate perspective. All of our committee members understand that the work we do as an association is focused on the greater good industry-wide and for the senior homeowners our members serve.\u201d<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-a-focus-on-the-mission\">A focus on the mission<\/h2>\n<p>When asked about debating proposed HECM or HMBS policy in an election year \u2014 and considering the possibility that different decision-makers will be in the driver\u2019s seat in the next several months \u2014 Irwin said that at the end of the day, there is more bipartisan consensus on housing issues than some may realize.<\/p>\n<p>\u201cI had the opportunity to attend a celebration at the FHA marking 90 years of the [agency],\u201d Irwin said. \u201cPart of that celebration included a panel discussion with various former FHA commissioners and the current FHA commissioner. One of the most telling points from the discussion, echoed by commissioners from different administrations and party affiliations, was that housing issues run deep.\u201d<\/p>\n<p>While there is some additional attention on housing matters from some in the federal government and by voters this election cycle, people from different political persuasions still tended to agree with the necessity for addressing housing issues, Irwin said.<\/p>\n<p>\u201cOne former commissioner emphasized that housing issues are not a partisan matter. The HECM program has remained an important initiative across administrations, and regardless of what happens in November, I am optimistic that it will continue to be significant.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>At the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in May, Acting Ginnie Mae President Sam Valverde said that the government-owned company planned to release a term sheet for a newly proposed Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program sometime in the next month. After the industry\u2019s secondary market was rocked by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-57882","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NRMLA president talks HMBS 2.0 term sheet and its potential impact - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.trio-tv.com\/ru\/nrmla-president-talks-hmbs-2-0-term-sheet-and-its-potential-impact\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NRMLA president talks HMBS 2.0 term sheet and its potential impact - Houses Marketplace\" \/>\n<meta property=\"og:description\" content=\"At the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in May, Acting Ginnie Mae President Sam Valverde said that the government-owned company planned to release a term sheet for a newly proposed Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program sometime in the next month. 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