Ginnie Mae Names Celink Participation Agent

Posted by Orb Staff on July 24, 2009 No Comments
Categories : Mortgage Servicing

, a Lansing, Mich.-based reverse mortgage subservicer, recently obtained approval from Ginnie Mae as a participation agent for securitizations backed by Home Equity Conversion Mortgages (HECMs), the Federal Housing Administration's reverse mortgage product. While Celink has been a subservicer on six current securitizations of this type, reporting loan-level detail through an independent participation agent, this approval now gives the company approval to manage all of the Ginnie Mae specific reporting and remitting requirements. "We are very grateful to the people at Ginnie Mae who assisted us through the testing, qualification and approval process," says John LaRose, CEO of Celink, "and we are proud to be recognized as an authorized Participation Agent for [this] program, which is growing rapidly." SOURCE:

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