Home Equity Conversion Mortgage Loan Packages

Home Equity Conversion Mortgage pool (HECM) loans. The requirements in this chapter …… National Mortgage Association or Federal Home Loan ….

More PDF Content

SPECIAL REQUIREMENTS (HECM / HMBS) Ginnie Mae 5500.3, Rev. 1 35-1 Date: 10/01/08 CHAPTER This chapter describes the special requirements that apply to a pool of Home Equity Conversion Mortgage (HECM) loans. The requirements described in this chapter may modify, supplement or in some cases repeat, for the purposes of emphasis, those requirements set forth in previous chapters with respect to Issuer eligibility, mortgage eligibility, pool requirements, required pool and submission documents and the actual HMBS securities. From time to time, balances related to a HECM loan may be pooled into HMBS securities. …
HMBS Security The pool of collateral that is specifically and uniquely associated with the HMBS security, which includes the related Must be accounted for and reported on pursuant to Ginnie Mae’s HMBS program requirements, as communicated in this Guide. HMBS Pool of Collateral Separate Participations in a single HECM loan may serve as collateral in multiple HMBS pools. Issuers must be able to s pecifically identify, at the HECM loan level, all all related HMBS pools.
Ginnie Mae will review the request and notify the applicant in writing of its decision. The Ginnie Mae application fee is not required for existing Issuers who seek approval to issue HMBS. If additional information is requested by Ginnie Mae, the applicant has 60 days to provide i t. If the requested information is not submitted to Ginnie Mae within 60 calendar days, the application package will be rejected and returned. If the application is denied, Ginnie Mae will advise the applicant in writing of the reason(s) for its decision.
HMBS Issuers may select, at their discretion, the timing and frequency of pooling Participations, so long as pooling requirements are met. (3) Consider, for example, a HECM loan originated in January with a net principal limit of $125,000, a Maximum SPECIAL REQUIREMENTS (HECM / HMBS) Ginnie Mae 5500.3, Rev. 1 35-8 Date: 10/01/08 Claim Amount of $225,000, an initial principal balance of $65,000 (the initial amount drawn by the mortgagor) and a fixed interest rate of 7%. This initial principal balance of $65,000 can be securitized into a security (HMBS #1) as the first Participation of the HECM loan. The servicing fee arrangement. The Servicing Fee Margin (described below) with respect to the HECM loan is 0.25%….

Download Home Equity Conversion Mortgage Loan Packages pdf from www.ginniemae.gov, 31 pages, 279.27KB.
Related Books

30 Responses to “Home Equity Conversion Mortgage Loan Packages”

  1. I think the admin of this web page is really working hard for his web site, for the reason that here every stuff is quality based data.

  2. www.wkstationery.com on June 5th, 2013 at 9:56 pm

    It’s appropriate time to make a few plans for the long run and it’s time to be
    happy. I have learn this publish and if I may I
    desire to recommend you few attention-grabbing issues or advice.
    Perhaps you can write next articles referring to
    this article. I wish to learn more issues about it!

  3. http://kizilcahamam.co/ on July 31st, 2013 at 6:26 am

    Whats up this is somewhat of off topic but I was wondering if
    blogs use WYSIWYG editors or if you have to
    manually code with HTML. I’m starting a blog soon but have no coding experience so I wanted to get advice from someone with experience. Any help would be enormously appreciated!

  4. najlepszy kredyt hipoteczny on August 1st, 2013 at 2:51 pm

    Hey there would you mind letting me know which web host you’re working with? I’ve loaded your blog
    in 3 different browsers and I must say this blog loads
    a lot quicker then most. Can you suggest a good hosting
    provider at a honest price? Kudos, I appreciate it!

  5. prace po angielsku Kraków on August 9th, 2013 at 5:08 pm

    Thanks , I have just been searching for information about this
    subject for ages and yours is the best I’ve discovered till now. However, what in regards to the conclusion? Are you positive concerning the source?

  6. kevinsonlineadexchange.com on September 9th, 2013 at 2:13 pm

    Great blog here! Also your web site loads up very fast!

    What web host are you using? Can I get your affiliate link to your
    host? I wish my web site loaded up as quickly as yours lol

  7. interior design course hk on September 17th, 2013 at 10:32 pm

    Please let me know if you’re looking for a author for your blog.
    You have some really good posts and I feel I would be a good asset.
    If you ever want to take some of the load off, I’d really
    like to write some material for your blog in exchange for a link back to mine.
    Please send me an e-mail if interested. Cheers!

  8. insurance companies who don\u0026#39;t check credit on September 22nd, 2013 at 1:51 am

    You can search this site for the kind of home owner insurance quotes for insurance york pa them to sell coverage to as
    many people as possible. If insurance companies choose to violate Referendum 67 and as
    a result insurance york pa you can save. But there are a variety of
    other coverage’s that can be awarded in lawsuits.

    It is the principal form of insurance there are factors you will have
    to look at ways to cut costs.

  9. revertir la diabetes tipo 2 on November 6th, 2013 at 11:44 am

    You ought to take part in a contest for one of the finest websites on
    the internet. I’m going to recommend this site!

  10. herbal supplements and coumadin on April 7th, 2014 at 9:35 am

    As the ɑdmin of this siote is workіոg, no doubt ѵery rapidly itt will bе well-known, due too its quality contents.

  11. buy followers instagram on June 20th, 2014 at 9:18 pm

    Wonderful blog! I found it while browsing on Yahoo News.
    Do you have any tips on how to get listed in Yahoo News?
    I’ve been trying for a while but I never seem to get there!
    Cheers

  12. It’s in point of fact a nice and helpful piece of info.
    I am satisfied that you shared this useful info with us.
    Please keep us up to date like this. Thank you for sharing.

  13. emerson portable ice maker on August 24th, 2014 at 6:21 am

    It’s truly a nice and useful piece of info. I am happy that you simply shared this helpful
    information with us. Please keep us informed like this.
    Thanks for sharing.

  14. http://stats.sightlines.co.za/ on August 30th, 2014 at 11:47 pm

    Kitchen island along with a high range of items like tables, chairs, wine racks, stools and similar accessories can make your eating area look impressive.
    The trend in kitchens today is to decorate for your life; so your kitchen furniture should be no exception. There
    are discussion questions to use for assessment though.

  15. Dining chairs often feature planked backs and seats, which can be harmonized with decorative cushion to make
    them a bit more relaxing. “Beauty and The Beat,” is currently being shown at
    the online French film festival, My French Film Festival.
    As the name suggests it is the furniture of the green house.

  16. psychopath test rhett and link on October 10th, 2014 at 6:28 pm

    I like the helpful info you provide on your articles. I will bookmark your weblog and test
    once more here frequently. I am reasonably sure I will learn many new stuff proper right here!
    Best of luck for the following!

  17. artificial insemination husband on October 12th, 2014 at 2:22 pm

    Yes! Finally something about artificial insemination brisbane.

  18. dimethyltryptamine side effects on October 14th, 2014 at 11:02 am

    Thank you for the good writeup. It if truth be told used to
    be a leisure account it. Look advanced to more
    introduced agreeable from you! However, how could
    we communicate?

  19. earn free dropbox space on October 22nd, 2014 at 10:02 pm

    Hi there everyone, it’s my first pay a visit at this site, and piece
    of writing is truly fruitful in support of me, keep up posting such content.

  20. virtual office address on April 18th, 2015 at 11:00 pm

    The following are the benefits that you have to be aware of the most.
    With good habit and savings, you can be assured of having enough to start your own business.

    A customer is injured while using a product you
    sold and files a claim for indemnity.

  21. Ship My Hot Rod (not verified) on September 11th, 2015 at 1:06 am

    In this example, you need to look for that company that
    has the most reasonable fees. Common routes are
    likely to be traveled destinations by shipping companies usually major cities
    and ports. Also, discuss with to friends and relatives for any advice
    on auto shipping services they might have used within the past.

  22. warm water springs on July 28th, 2016 at 6:19 am

    Israel could be the only place in which you will get hikes which require through numerous caves.
    You can plan a cheap vacation in Madrid and
    enjoys times of sightseeing and relaxing. The South Rim tours have optional add-ons too for instance a motorcycle or jeep ride.

Leave a Reply