Joshua Rosner, managing director at Graham Fisher, a consulting firm, suggested that calls for an explicit government guarantee for GSE MBS are absurd.
“For MBA, the most critical issue to address before releasing the GSEs is the establishment of an explicit federal backstop for mortgage-backed securities,” according to Bob Broeksmit, president and CEO of the Mortgage Bankers Association.
“This program will facilitate much-needed liquidity for issuers while improving the stability of the government-backed reverse mortgage market,” said Sam Valverde, Ginnie’s acting president.