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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – November 2022The New View Advisors and Recursion November 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 11_2022. The indices are derived from underlying HECM data in HMBS made public by Ginnie Mae, as well as private sources. This new expanded set of prepayment data is calculated using…
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Read more: HMBS November 2022 Part II: Winter Headwinds BlowingHMBS payoffs fell again in November, as the refinancing retreat turned into a rout. November payoffs totaled about $830 million, the lowest dollar amount in 22 months and the lowest payoff rate in over 6 years. Outstanding HMBS rose to a record $59.7 billion due to faster roll-up from rising interest rates and the drop…
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Read more: HECM Endorsement Analytics – November 2022The downward trend continues in HECM endorsement count, which fell 7% to 3,272 units in November. Reverse Mortgage Funding (RMF) filed for bankruptcy Wednesday, the impact of which will start to reveal itself in next month’s tallies. Our report can be found here: NV Endorsement 2022_11. HUD’s October Endorsement Snapshot Report was just released on…
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Read more: HMBS November 2022: Instead of Thanksgiving, Another HalloweenHECM Mortgage-Backed Securities (“HMBS”) issuance fell sharply in November to $763 million, falling for the seventh straight month. On November 30, Reverse Mortgage Funding (“RMF”), the largest HMBS issuer of record, filed for bankruptcy. RMF is the issuer of record for approximately $21 billion of the $59 billion of total outstanding HMBS. RMF issued 15…
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Read more: HECM Endorsement Analytics – October 2022There 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…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – October 2022The New View Advisors and Recursion October 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 10_2022. The indices are derived from underlying HECM data in HMBS made public by Ginnie Mae, as well as private sources. This new expanded set of prepayment data is calculated using…
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Read more: HMBS October 2022 Part II: Refinancings Going, Going … but not GoneHMBS payoffs fell again in October, as the refinancing wave continued its steady retreat. October payoffs totaled about $900 million, the lowest level in 20 months. Outstanding HMBS rose to a record $59.5 billion due to faster roll-up from rising interest rates and the drop in payoffs. The HECM refi wave was assisted by a…
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Read more: October 2022: Halloween Scare – HMBS Issuance a Ghost of its Former SelfHECM Mortgage-Backed Securities (“HMBS”) issuance fell in October to $824 million, falling for the sixth straight month as higher interest rates continued to take their toll. HMBS issuance remained below $1 billion for only the third time in 19 months. With ten months in the books and nearly $12.5 billion issued, HMBS is on pace…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – September 2022The New View Advisors and Recursion September 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 09_2022. The indices are derived from underlying HECM data in HMBS made public by Ginnie Mae, as well as private sources. This new expanded set of prepayment data is calculated using…
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Read more: HMBS September 2022 Part II: Refi Retreat ResumesHMBS payoffs fell again in September, as the refinancing wave resumed its retreat. September payoffs totaled about $948 million, the lowest amount in 19 months. Outstanding HMBS rose to a record $59.3 billion due to a faster roll-up from rising interest rates and the drop in payoffs. The HECM refinance wave was assisted by a…