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Ginnie Mae Releases HECM Mortgage Backed Security Program 

Sep 19, 2007By

On September 1st, Ginnie Mae officially released their HECM Mortgage Backed Security (HMBS) program.  Ginnie Mae’s HMBS are standardized mortgage-backed securities (MBS), which are collateralized by FHA insured HECM loans.  The HMBS is a new class of Ginnie Mae security backed by HECM loan participation’s under the umbrella of the Ginnie Mae II Custom Program. […]