{"id":59155,"date":"2024-10-09T03:03:17","date_gmt":"2024-10-09T01:03:17","guid":{"rendered":"https:\/\/housesmarketplace.com\/ginnie-maes-sam-valverde-on-the-mission-of-the-reverse-securities-program\/"},"modified":"2024-10-09T03:03:17","modified_gmt":"2024-10-09T01:03:17","slug":"ginnie-maes-sam-valverde-on-the-mission-of-the-reverse-securities-program","status":"publish","type":"post","link":"https:\/\/housesmarketplace.trio-tv.com\/ru\/ginnie-maes-sam-valverde-on-the-mission-of-the-reverse-securities-program\/","title":{"rendered":"\u0421\u044d\u043c \u0412\u0430\u043b\u044c\u0432\u0435\u0440\u0434\u0435 \u0438\u0437 Ginnie Mae \u043e \u043c\u0438\u0441\u0441\u0438\u0438 \u043f\u0440\u043e\u0433\u0440\u0430\u043c\u043c\u044b \u043e\u0431\u0440\u0430\u0442\u043d\u044b\u0445 \u0446\u0435\u043d\u043d\u044b\u0445 \u0431\u0443\u043c\u0430\u0433"},"content":{"rendered":"<div>\n<p><a href=\"https:\/\/www.housingwire.com\/company\/ginnie-mae\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Ginnie Mae<\/strong><\/a> has taken a far more active role in the reverse mortgage industry over the past two years, stemming from the failure of a major industry lender that threatened liquidity for other major players in the space. The government-owned company has long overseen the Home Equity Conversion Mortgage (<a href=\"https:\/\/www.housingwire.com\/tag\/hecm\/\" target=\"_blank\" rel=\"noreferrer noopener\">HECM<\/a>)-backed Securities (<a href=\"https:\/\/www.housingwire.com\/tag\/hmbs\/\" target=\"_blank\" rel=\"noreferrer noopener\">HMBS<\/a>) program, through which reverse mortgages are securitized and sold to investors.<\/p>\n<p>While recent industry liquidity challenges were first addressed under the leadership of former Ginnie Mae president <a href=\"https:\/\/www.housingwire.com\/articles\/ginnie-mae-president-alanna-mccargo-to-resign\/\">Alanna McCargo<\/a>, the company\u2019s acting president, Sam Valverde, is currently charged with leadership responsibilities. These include the eventual implementation of \u201c<a href=\"https:\/\/www.housingwire.com\/articles\/ginnie-mae-releases-anticipated-hmbs-20-term-sheet\/\">HMBS 2.0,<\/a>\u201d a complementary program that the industry is looking at <a href=\"https:\/\/www.housingwire.com\/articles\/foa-reports-loss-in-q2-but-notes-improved-performance\/\" target=\"_blank\" rel=\"noreferrer noopener\">with great interest<\/a>.<\/p>\n<p>To get an idea of where things stand with Ginnie Mae\u2019s recent reverse mortgage activity, <strong>HousingWire<\/strong>\u2019s Reverse Mortgage Daily (RMD) sat down with Valverde for an exclusive interview.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-small-size-big-importance\">Small size, big importance<\/h2>\n<p>When asked about his own interactions with the reverse mortgage program and some of the initiatives he is overseeing, Valverde recognized the importance of the program in meeting the company\u2019s mission.<\/p>\n<figure class=\"alignright size-large is-resized\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" width=\"1280\" height=\"1600\" data-attachment-id=\"460379\" data-permalink=\"https:\/\/www.housingwire.com\/articles\/valverde-appointed-acting-president-of-ginnie-mae\/samvalverde_ginniemae\/\" data-orig-file=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/05\/samvalverde_ginniemae.jpg\" data-orig-size=\"1280,1600\" data-comments-opened=\"1\" data-image-meta='{\"aperture\":\"5.6\",\"credit\":\"Jennifer E. Miller\",\"camera\":\"ILCE-7RM4A\",\"caption\":\"\",\"created_timestamp\":\"1652148367\",\"copyright\":\"\",\"focal_length\":\"101\",\"iso\":\"100\",\"shutter_speed\":\"0.00625\",\"title\":\"\",\"orientation\":\"0\"}' data-image-title=\"samvalverde_ginniemae\" data-image-description=\"&lt;p&gt;Sam Valverde, acting president of Ginnie Mae.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Sam Valverde&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/05\/samvalverde_ginniemae.jpg?w=240\" data-large-file=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/05\/samvalverde_ginniemae.jpg?w=819\" tabindex=\"0\" role=\"button\" src=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/05\/samvalverde_ginniemae.jpg?w=819\" alt=\"Sam Valverde, acting president of Ginnie Mae.\" class=\"wp-image-460379\" style=\"width:200px\" srcset=\"https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/05\/samvalverde_ginniemae.jpg 1280w, https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/05\/samvalverde_ginniemae.jpg?resize=120,150 120w, https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/05\/samvalverde_ginniemae.jpg?resize=240,300 240w, https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/05\/samvalverde_ginniemae.jpg?resize=768,960 768w, https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/05\/samvalverde_ginniemae.jpg?resize=819,1024 819w, https:\/\/www.housingwire.com\/wp-content\/uploads\/2024\/05\/samvalverde_ginniemae.jpg?resize=1229,1536 1229w\" sizes=\"(max-width: 1280px) 100vw, 1280px\"><figcaption class=\"wp-element-caption\">Sam Valverde<\/figcaption><\/figure>\n<p>\u201cHMBS is a small part of our portfolio, but it\u2019s a critically important part of how we meet our mission,\u201d he said. \u201cEnsuring this critical retirement tool remains available to America\u2019s seniors is not just Ginnie Mae\u2019s priority \u2014 it\u2019s a shared priority between us, the <a href=\"https:\/\/www.housingwire.com\/tag\/fha\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Federal Housing Administration<\/strong><\/a> (FHA), the <a href=\"https:\/\/www.housingwire.com\/tag\/hud\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>U.S. Department of Housing and Urban Development<\/strong><\/a> (HUD) broadly, and our industry partners. It\u2019s more critical than ever because our population continues to age, and more seniors are going to need a way to supplement their income without being displaced.\u201d<\/p>\n<p>Similar to <a href=\"https:\/\/www.housingwire.com\/articles\/fha-commissioner-housing-counselors-reverse-mortgage-training\/\">recent comments<\/a> from FHA Commissioner <a href=\"https:\/\/www.housingwire.com\/tag\/julia-gordon\/\" target=\"_blank\" rel=\"noreferrer noopener\">Julia Gordon<\/a>, Valverde gave service to the idea of the industry\u2019s demographics having the potential to expand the base of reverse mortgage business.\u00a0<\/p>\n<p>\u201cI think the growing demographic need for this program suggests that there\u2019s new demand on the horizon that can support future growth of the program, if we can stabilize it in the near term,\u201d he said. \u201cAt Ginnie, we\u2019ve made addressing the issues facing the reverse mortgage sector a critical priority, even when we\u2019ve had <a href=\"https:\/\/www.housingwire.com\/articles\/chla-heres-how-to-modernize-short-changed-ginnie-mae\/\">resource constraints<\/a> to contend with. It will remain a priority going forward.\u201d<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-industry-collaboration-actions-taken\">Industry collaboration, actions taken<\/h2>\n<p>When asked about the partnership between Ginnie Mae and members of the reverse mortgage industry, Valverde said the shared work has been productive.<\/p>\n<p>\u201c[The industry has] been our partners in the program \u2014 both generally and in developing our response,\u201d he said. \u201cOur issuers make and aggregate the mortgages; Ginnie Mae can\u2019t do that. We don\u2019t serve consumers directly, so we rely on our issuers. <\/p>\n<p>\u201cWhen the rate environment precipitated the <a href=\"https:\/\/www.housingwire.com\/articles\/inside-the-collapse-of-rmf-americas-fifth-largest-reverse-mortgage-lender\/\" target=\"_blank\" rel=\"noreferrer noopener\">failure of RMF<\/a>, it became clear we needed to act to preserve the viability of the program for senior borrowers, while ensuring RMF borrowers weren\u2019t adversely affected. We began focusing on multiple issues facing the sector.\u201d<\/p>\n<p>The first priority was on tail finance liquidity, to ensure that issuers could continue to honor borrowers\u2019 draw requests. That work began in October 2023, but there was also a need to address liquidity constraints that older HECM loans were placing on issuers.<\/p>\n<p>\u201cThis year, we really started working in tandem with FHA, and they\u2019ve done a lot to support issuer liquidity as well,\u201d he said.<\/p>\n<p>FHA reduced its number of occupancy defaults by allowing residents to certify occupancy <a href=\"https:\/\/www.housingwire.com\/articles\/celink-offers-e-sign-option-for-occupancy-checks-hopes-for-more-digital-options-to-come\/\" target=\"_blank\" rel=\"noreferrer noopener\">via alternative means<\/a>. It also <a href=\"https:\/\/www.housingwire.com\/articles\/fha-publishes-policy-to-expedite-hecm-assignment-claims\/\" target=\"_blank\" rel=\"noreferrer noopener\">made it easier to apply for loan assignments<\/a> earlier while allowing servicers to resolve defaults more quickly by increasing incentives for borrowers, their heirs and servicers. But more work was needed, which is where <a href=\"https:\/\/www.housingwire.com\/articles\/ginnie-mae-to-explore-new-reverse-mortgage-backed-security-product\/\" target=\"_blank\" rel=\"noreferrer noopener\">HMBS 2.0<\/a> comes into the fold.<\/p>\n<p>\u201cEven with all this great work from FHA, it was clear more needed to be done,\u201d Valverde said. \u201cSo, we began exploring a new securities program \u2014 what we and the industry have been calling \u2018HMBS 2.0.\u2019 For that, we\u2019ve consulted closely with issuers and industry experts to identify the needs of the market and get their input.\u201d<\/p>\n<p><em>Look for more from Sam Valverde on reverse mortgages and HMBS 2.0 soon on HousingWire\u2019s RMD.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ginnie Mae has taken a far more active role in the reverse mortgage industry over the past two years, stemming from the failure of a major industry lender that threatened liquidity for other major players in the space. The government-owned company has long overseen the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program, through which [&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-59155","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>Ginnie Mae\u2019s Sam Valverde on the mission of the reverse securities program - 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\/ginnie-maes-sam-valverde-on-the-mission-of-the-reverse-securities-program\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ginnie Mae\u2019s Sam Valverde on the mission of the reverse securities program - Houses Marketplace\" \/>\n<meta property=\"og:description\" content=\"Ginnie Mae has taken a far more active role in the reverse mortgage industry over the past two years, stemming from the failure of a major industry lender that threatened liquidity for other major players in the space. 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