Ginnie Mae announced today that investors of Home Equity Conversion Mortgages can now take advantage of a new Platinum securities execution — the HECM Mortgage-Backed Security (HMBS) Platinum securitization channel.
According to a press release issued by Ginnie Mae, the Platinum HMBS option eases the administrative costs of holding multiple (and typically smaller) HMBS securities and, in doing so, enhances the liquidity of the overall market for Ginnie Mae HMBS. It is the latest evolution in the modernization of Ginnie Mae’s Platinum securities program, which has been adding investor-focused functionality since 2017.
“Today’s announcement is another important step on the path to continually modernize operations at Ginnie Mae to benefit MBS investors and Issuers,” said John Daugherty, SVP, Office of Securities Operations.