Ted Tozer

Feature: The Rise of Ginnie Mae 

It has been more than five years since Ginnie Mae entered the reverse mortgage market with its Home Equity Conversion Mortgage mortgage-backed security (HMBS). The Ginnie Mae HMBS program has had a significant impact on our industry by generating liquidity and a long-term option for secondary market execution. In addition to enhancing liquidity, our goal in creating the program was to lower interest rates for borrowers, thus helping Ginnie Mae fulfill its mission of providing affordable housing opportunities. Since October 2007, Ginnie Mae has guaranteed more than $30 billion in HMBS securities, providing a safe, secure secondary market for the