Before leaving the government-affiliated company, Valverde contributed to the HMBS 2.0 initiative, with a term sheet published based on industry feedback. Despite the silence on the project following political changes and leadership transitions, conversations during Finance of America’s earnings call revealed ongoing developments. FOA CEO Graham Fleming noted that while no effective date for HMBS 2.0 has been set, communication suggests Ginnie Mae is moving forward. However, uncertainty remains due to Ginnie Mae's leadership vacancy following Valverde's departure and the absence of a presidential nominee for the full-time president role.
During the fourth-quarter earnings call, FOA CEO Graham Fleming informed that Ginnie Mae is progressing on HMBS 2.0 despite no specific effective date set yet.
Fleming noted conversations indicate that while an effective date isn't available, there are ongoing efforts and developments concerning the HMBS 2.0 implementation.
As Valverde steps down, the uncertainty around Ginnie Mae's leadership position, which requires presidential nomination and Senate confirmation, adds to the overall delay in developments.
Ginnie Mae's silence post-election raises questions about HMBS 2.0's progress, yet analysts are hopeful following insights from Finance of America's executives.
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