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Read more: HECM Endorsement Analytics – September 2022September’s HECM endorsement volume tanked, to just 3,235 units, approximately half of the high observed in March 2022. Our report can be found here: NV Endorsement 2022_09. Compared to August, top originators American Advisors Group, Finance of America Reverse, and Longbridge Financial saw endorsements drop by 50%, 45%, and 72%, respectively. Mutual of Omaha stood…
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Read more: 2022 First Nine Months HMBS Issuer League Tables – Quarterly Volume Off 29%AAG is still the #1 HMBS issuer in Q3, with $2.588 billion HMBS and 22.2% market share. FAR remains close behind in second, issuing $2.361 billion for a 20.3% market share. Longbridge stays in third with $2.128 billion issued and 18.3% market share, RMF is still fourth with $1.995 billion issued and 17.1% market share,…
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Read more: HMBS September 2022: New School Year May Bring Difficult LessonsHECM Mortgage-Backed Securities (“HMBS”) issuance fell in September to $966 million, falling for the fifth straight month as higher interest rates continued to take their toll. HMBS issuance remained below $1 billion for only the second time in 18 months. With nine months in the books and over $11.6 billion issued, HMBS is still on…
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Read more: HMBS August 2022 Part II: Refi Retreat Takes a HolidayHMBS prepayments leveled off in August, as the refinancing wave paused its retreat. August payoffs totaled just over $1 billion, the second lowest amount in 18 months. Outstanding HMBS rose to a record $59.1 billion, helped by a faster roll-up from rising interest rates. The HECM refinance wave was assisted by a higher HECM lending…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – August 2022The New View Advisors and Recursion August 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 08_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: HECM Endorsement Analytics – August 2022August’s HECM endorsement count bounced back to 5,727 units, up 16% from last month’s 4,928 count. Longbridge Financial endorsed 931 loans, reaching its all-time high and almost tripling volume from one year ago. Market leader American Advisors Group (AAG) had 1,222 endorsements, 19% lower than the approximate 1,500 units it endorsed 12 months ago. AAG,…
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Read more: HMBS August 2022: Summer Doldrums ContinueHECM Mortgage-Backed Securities (“HMBS”) issuance dropped in August to $988 million, falling for the fourth straight month as higher interest rates continued to take their toll. HMBS issuance fell below $1 billion for the first time in 17 months. HMBS issuance totaled $13.2 billion for 2021, easily surpassing the previous record set in 2010. With…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – July 2022The New View Advisors and Recursion July 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 07_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 July 2022 Part II: Refi Retreat ContinuesHMBS payoffs fell again in July, as the refinancing wave continued its retreat. July payoffs totaled about $1 billion, the lowest amount in 17 months. Outstanding HMBS rose to a record $59 billion due to a combination of fairly strong new issuance, a faster roll-up from rising interest rates and the drop in payoffs. The…
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Read more: HECM Endorsement Analytics – July 2022July saw 4,928 HECMs endorsements, the first time endorsements dropped below 5,000 units since October 2021. Longbridge Financial and Traditional Mortgage Group both had endorsement counts increase 30% over June, but the other lenders all experienced meaningful unit count drops. Our complete report can be found here: NV Endorsement 2022_07. The Santa Ana Homeownership Center…