There was a slight rebound of HECM endorsements in October, reaching 3,504 units compared to September’s 3,235. Our report can be found here: NV Endorsement 2022_10. Of note, AAG originated 23% of October volume, down from its 38% peak market share achieved in May 2021.
HUD’s September Endorsement Snapshot Report was just released on its website. Endorsements backed by HECM to HECM refis dropped to 811 loans, approximately 25% of overall unit count. At its peak, 50% of all endorsement volume was H2H refis, more than 3,000 a month. Expect ever lower refi volume to continue.
New View Advisors continues to offer its Who Buys What From Whom (WBWFW) report as part of our endorsement report subscription. The report compiles publicly available Ginnie Mae data to show which HMBS issuers buy HECMs from which lenders.
The WBWFW report includes:
—Top Originators – a ranking by original HECM UPB of all lenders over the last twelve months
—WBWFW – an alphabetical cross-reference between every lender and the HMBS issuer that securitizes its loans
—Top 100 Trends – a breakdown of loan sales by month, by Top-100 lender, by HMBS issuer.
Edited WBWFW report samples are at the end of our endorsement writeup. These reports together provide accurate insight for sales and marketing teams to learn just who’s buying what from whom. The dataset is more complete and timely than what endorsement analysis alone can show.
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