The latest FHA actuarial report showed that HECM loans had an increase in claims against the FHA Mutual Mortgage Insurance (MMI) Fund.
What does HMBS stand for?
HMBS stands for HECM (Home Equity Conversion Mortgage) Mortgage-Backed Security
This definition appears frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of HMBS
We have 2 other meanings of HMBS in our Acronym Attic
- High Mass Binary Pulsar
- High Maturity Best Practices (Capability Maturity Model Integration)
- Home Monitoring of Blood Pressure
- Human Mannose-Binding Protein
- Human Myelin Basic Protein
- Hybrid Membrane Biofilm Process (wastewater management)
- Haan Maine Bhi Pyaar Kiya (Hindi film)
- Hitachi Multiplatform Backup/Restore
- Head's Message Board System
- Heart, Mind, Body and Soul
- Her Majesty's Bermudian Ship
- Her Majesty's Burmese Ship
- His/Her Majesty’s Bahamian Ship
- Hundred Meter Breast Stroke
- Humanistic Management by Teamwork (book)
- Harvest Moon Back to Nature (game)
- Human Movement and Balance Unit (Institute of Neurology; UK)
- Al-Hayat Media Centre (Islamic State media)
- Chief Hospital Corpsman (Navy Designation Rating)
- Hair Moisturizing Complex (Soft & Beautiful)
Samples in periodicals archive:
8 percent of all active HECM loans were delinquent, according to HUD, which regulates the loans.
These originators, sponsors and servers have access to HECM loan files.
As a federal program, HECM reverse mortgages exploded in scope and availability with the passage of financial stimulus legislation in 2008 and 2009.
Much of what we've been hearing tossed around for years now was accomplished with the bill--unifying a national Federal Housing Authority (FHA) loan limit and increasing it to meet Fannie Mae and Freddie Mac, the approval of the home equity conversion mortgage (HECM) purchase, approving the HECM for coops, and decreasing the two-point origination fee to 1.
Although proprietary reverse mortgage products began to appear in 1995, the recent economic turmoil has driven all HECM competition out of the current marketplace.
HECM loans are originated by private lenders and purchased by Fannie Mae.