Ginnie Mae reminds Issuers that they must purchase HECM loans out of HMBS loan pools when the outstanding principal balance reaches or exceeds 98% of the maximum claim amount.
Secondary Markets
GNMA Boosts Net Worth and Liquid Asset Requirements for HMBS Issuers
Effective immediately, Ginnie Mae is increasing the base net worth requirement for HECM Mortgage-Backed Securities (HMBS) issuers from the current $1 million base net worth requirement to $5 million.