Plans for a real estate mortgage investment conduit vehicle for government reverse mortgage loans are moving along, according to Justin Burch, senior mortgage banking analyst at Ginnie Mae. The Home Equity Conversion Mortgage REMIC, which has been discussed for the past six months, "is coming," Mr. Burch told attendees at the Mortgage Bankers Association's National Secondary Market Conference in Boston. He said the financial instrument is the "next critical piece" in the evolution of the secondary market for reverse mortgages.
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