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Read more: HMBS July 2022: Summer DoldrumsHECM Mortgage-Backed Securities (“HMBS”) issuance fell in July to $1.2 billion, falling for the third straight month as the refinancing wave continued to ebb. Production remains strong by historical standards, but the downward trend is clear. HMBS issuance totaled $13.2 billion for 2021, easily surpassing the old record from 2010. With seven months in the…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – June 2022The New View Advisors and Recursion June 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 06_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 June 2022 Part II: Refi Swoon Began in JuneHMBS payoffs fell in June, as the refinancing wave finally began its retreat. June payoffs totaled just over $1.1 billion, the lowest amount in over a year. Outstanding HMBS rose to a record $58.6 billion due to continued strong new issuance and a faster roll-up from rising interest rates. The HECM refinance wave was assisted…
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Read more: 2022 First Half HMBS Issuer League Tables – Crown Up For GrabsAAG remained the #1 HMBS issuer in Q2, with $1.848 billion issued and 21.7% market share, though FAR was less than $12 million away, issuing $1.836 million for a 21.6% market share. Longbridge remained in third with $1.558 billion issued and 18.3% market share, RMF stayed in fourth with $1.507 billion issued and 17.7% market…
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Read more: HECM Endorsement Analytics – June 20225,937 HECMs were endorsed in June, off 8.8% from the March high but up 2.7% from May. The next few months will certainly reveal the impact of rising rates and HPA burnout. Our complete report can be found here: NV Endorsement 2022_06. HUD’s May Endorsement Snapshot Report was just released on its website. As previously…
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Read more: HMBS June 2022: June Too Soon For Swoon, But End to Boon LoomsHECM Mortgage-Backed Securities (“HMBS”) issuance fell in June to $1.3 billion, compared to $1.5 billion in May and April’s record $1.6 billion, as the refinancing wave continues to ebb. However, production remains strong by historical standards. Given the lag between HECM loan origination and HMBS issuance, the new HECMs backing June’s HMBS pools do not…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – May 2022The New View Advisors and Recursion May 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 05_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 May 2022 Part II: May Too Soon To Begin Swoon Which May Loom in JuneHMBS payoffs continued in May, as the refinancing wave refuses to ebb. Instead, May payoffs totaled $1.48 billion, just short of March’s 2022 record $1.5 billion. Outstanding HMBS rose to a record $58.3 billion with strong new issuance and a faster roll-up from rising interest rates. HECM borrowers continue to refinance in large numbers, assisted…
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Read more: HECM Endorsement Analytics – May 20225,783 HECMs were endorsed in May, continuing a slow downward trend since March’s record-setting 6,510 endorsements. The May endorsement count is off 11.2% from the March high, and down 7.7% from April. The next few months will likely reveal the impact of rising rates and HPA burnout. Our complete report can be found here: NV…
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Read more: HMBS May 2022: May Flowers Wither; June Gloom LoomsHECM Mortgage-Backed Securities (“HMBS”) issuance fell in May to $1.45 billion, down from April’s record $1.6 billion, as the refinancing wave finally began to ebb. However, production remains strong by historical standards. Given the lag between HECM loan origination and HMBS issuance, new HECMs backing May’s HMBS pools do not fully reflect the rapid rise…