Interactive Data Provides Independent Evaluations For HMBS

Interactive Data Corp. (IDC), a provider of financial market data and analytics, has announced that its pricing and reference data business is now providing daily independent evaluations for fixed-rate reverse mortgage-backed securities (HMBS) issued under Ginnie Mae's Home Equity Conversion Mortgage (HECM) program.

This program is designed to provide liquidity to reverse mortgage lenders. Interactive Data is among the first data providers in the industry to offer daily evaluations for fixed rate Ginnie Mae HMBS.

Despite expected growth in HECM originations – Ginnie Mae has projected 25% to 30% growth – holders of Ginnie Mae HMBS have been challenged to find independent evaluations for these securities, IDC says.

"[Ginnie Mae] HMBS have undergone dramatic growth over the past few years, and we find that many of our clients – especially insurance companies, mutual funds and custodian banks – are increasingly requesting evaluations for these structures," says Liz Duggan, managing director of evaluations for IDC's pricing and reference data business. "Our clients can now subscribe to our independent evaluations for fixed-rate Ginnie Mae HMBS as an input to their valuations process."

SOURCE: Interactive Data Corp.


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