Mortgage Bankers Association Secondary Market Conference: Reverse Mortgages

image Next week the Mortgage Bankers Association is having their annual Secondary Marketing Conference & Expo at the Hynes Convention Center in Boston.  The MBA continues to show interest in tapping the reverse mortgage market and recently hosted their first Reverse Mortgage Conference in San Diego the same week at NRMLA’s regional event in Philadelphia.

Reverse mortgages seem to be the “hot topic” at the MBA conferences and I’d expect they will get more involved in the business in the next year.  At the conference in Boston, Justin Burch, a senior mortgage banking analyst for Ginnie Mae will be hosting the “Reverse Mortgages – Outlook for Industry” session with Wagas Shaikh from Standard & Poor’s.

Speaking of S&P, a few weeks ago they released a revised version of their Criteria Methodology And Assumptions: U.S. RMBS HECM Reverse Mortgage Analysis Assumptions report, which discusses RMBS cash flow assumptions.  The report shows an interesting table which provides the state-specific annual insurance premiums, taxes (as a percentage of the initial appraised value), and foreclosure and REO timelines and expenses.  It also shows HECM annual repayment assumptions which are broken down by Males, Females, and Couples.

I’m not able to make it out to the conference this year but if any RMD readers are planning on being there, I’d love to have someone report on what was discussed at the reverse mortgage session.  Let me know if you’re interested.

Mortgage Bankers Secondary Conference 2008

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