Reverse Mortgage Solutions, Houston, has reported the completion of a $25 million Ginnie Mae fixed-rate home equity conversion mortgage-backed securitization on which it served as issuer, servicer, and master servicer. Bob Yeary, chief executive officer of RMS, told MortgageWire that Ginnie Mae has identified the transaction as the first reverse MBS on which a single company has taken on all three of the aforementioned roles, something the Houston-based firm's automation helped it to do. World Alliance Financial, the Melville, N.Y.-based affiliate of KBC Bank, Brussels, originated the reverse mortgages in the transaction, Mr. Yeary said.
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