Ginnie Mae announced today that Financial Freedom, a leading reverse mortgage lender, issued two fixed-rate reverse mortgage deals and one Libor transaction under the agency's Home Equity Conversion Mortgage (HECM) Mortgage-Backed Securities (HMBS) program.

The $177 million fixed-rate offerings and the $104 million Libor transaction are among the first MBS pools backed by Federal Housing Administration-insured fixed-rate and Libor reverse mortgages. The three pools catapulted the Ginnie Mae HMBS program to $648 million in issuance.

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