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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – June 2024The New View Advisors and Recursion June 2024 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 06_2024. The indices are derived from underlying HECM data in HMBS made public by Ginnie Mae, as well as private sources. This expanded set of prepayment data is calculated using dollar…
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Read more: HMBS June 2024 Part II: Summer DoldrumsTotal HMBS payoffs in June decreased from May; overall prepayment speeds decreased to 16.7% per annum from May’s 18.1% per annum. Outstanding HMBS decreased to $58.25 billion – the seventh consecutive decrease and the 15th of the last 17 months. Finance of America is the issuer of record of $17.3 billion or about 29.7% of…
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Read more: HECM Endorsement Analytics – June 2024After a strong May, endorsement activity gave up its gain and dropped 14.4%, back to 2,105 HECMs in June. Our full report can be found here: NV Endorsement 2024_06. HUD’s May Endorsement Snapshot Report was just released, showing no material changes in wholesale origination and sponsorship activities, or refinance volume.
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Read more: 2024 First Half HMBS Issuer League TablesFAR remains YTD lead HMBS issuer through 2024Q2, with $909 million issued and 32% market share. Longbridge stays in second, with $609 million issued and 21% market share. Mutual of Omaha Mortgage moved up a notch to third, with $524 million issued, for an 18.4% market share, and PHH was fourth with $512 million issued…
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Read more: HMBS June 2024: HMBS 2.0 – Cure For The Summertime Blues?The HMBS new issue market fell in June. HECM Mortgage-Backed Securities (“HMBS”) issuance totaled $497 million, $29 million lower than May’s $526 million. 86 pools were issued in both June and May. HMBS issuance remains near historical lows, comparing monthly issuance dating back to 2010. Ginnie Mae published its “HMBS 2.0” Term Sheet for comment…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – May 2024The New View Advisors and Recursion May 2024 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 05_2024. The indices are derived from underlying HECM data in HMBS made public by Ginnie Mae, as well as private sources. This expanded set of prepayment data is calculated using dollar…
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Read more: HMBS May 2024 Part II: FAR AheadFinance of America has replaced Ginnie Mae as the top HMBS Issuer of record, with $17.2 billion, or about 29.5% of all outstanding HMBS. Along with Ginnie Mae (29%), Longbridge (14%), and Onity (13%), the top four Issuers account for 86% of outstanding HMBS. As mentioned in previous blogs, Ginnie Mae took over RMF’s HMBS…
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Read more: HECM Endorsement Analytics – May 2024May was a strong month, posting 2,460 endorsements. Endorsement activity increased 17% from April, and is at its highest level since October 2023. Our full report can be found here: NV Endorsement 2024_05. HUD’s April Endorsement Snapshot Report was just released. Over the past two months, HECM to HECM refis rebounded slightly, to 9% of…
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Read more: HMBS May 2024: May The Force Be With YouThe HMBS new issue market continued to inch up in May. HECM Mortgage-Backed Securities (“HMBS”) issuance totaled $526 million in May, $23 million higher than April’s $503 million. 86 pools were issued in May, versus 89 in April. Nonetheless, HMBS issuance remains near historical lows, comparing monthly issuance dating back to 2010. FAR was the…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – April 2024The New View Advisors and Recursion April 2024 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 04_2024. The indices are derived from underlying HECM data in HMBS made public by Ginnie Mae, as well as private sources. This expanded set of prepayment data is calculated using dollar…