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Read more: HMBS April 2024 Part II: Not so FAR awayTotal HMBS payoffs in April showed a slight increase over March; overall prepayment speeds increased to 17.9% per annum from February’s 17.6% per annum. Outstanding HMBS decreased to $58.4 billion. As mentioned in previous blogs, Ginnie Mae took over RMF’s HMBS portfolio in December 2022. “Ginnie Mae – Reverse Mortgage Funding 42” remains as issuer…
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Read more: HECM Endorsement Analytics – April 2024There were 2,105 HECM endorsements in April, up slightly from last month’s 2,058 unit count, and in keeping with the flatline trend evidenced over the past six months. Our full report can be found here: NV Endorsement 2024_04. HUD’s March Endorsement Snapshot Report was just released on its website. Movement Mortgage, Atlantic Avenue Mortgage, and…
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Read more: HMBS April 2024: Rates School April FoolsThe HMBS new issue market bounced back in April, with HECM Mortgage-Backed Securities (“HMBS”) issuance totaling $503 million, $56 million higher than March’s $447 million. 89 pools were issued in April and 79 in March. HMBS issuance remains near historical lows with April’s volume being the 10th lowest monthly tally since 2010. FAR was the…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – March 2024The New View Advisors and Recursion March 2024 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 03_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 March 2024 Part II: Another EclipseAfter four months of increasingly lower prepayments, total HMBS payoffs in March increased by over $100 million; overall prepayment speed increased to 17.7% per annum from February’s 15.7% per annum. Outstanding HMBS decreased to $58.6 billion. Ginnie Mae Issuer 42 remains issuer of record for 4,006 former RMF pools. About $323 million of Issuer 42’s…
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Read more: HECM Endorsement Analytics – March 2024Endorsements rebounded slightly in March, crossing back into the 2,000-plus territory with 2,058 units. Our report can be found here: NV Endorsement 2024_03. HUD’s February Endorsement Snapshot Report was just released on its website. This report is back to lagging by just one month to the Endorsement Summary report.
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Read more: 2024 First Quarter HMBS Issuer League TablesFAR remains lead HMBS issuer for 2024Q1, with $438 million issued and 33% market share. Longbridge stays in second, with $274 million issued and 21% market share, PHH was third with $247 million issued and 19% market share, and Mutual of Omaha was fourth with $234 million issued and 18% market share. There were nine…
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Read more: HMBS March 2024: Spring AheadThe HMBS new issue market bounced back – at least a little bit – in March. HECM Mortgage-Backed Securities (“HMBS”) issuance totaled $447 million, $18 million higher than February’s $429 million. 79 pools were issued in March versus 80 in February. Issuance remains near the historic lows of HMBS’ earliest days (2009 and prior). FAR…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – February 2024The New View Advisors and Recursion February 2024 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 02_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 February 2024 Part II: Best Supporting Role Goes To Rate Dip Amid HMBS Issuance FloppenheimerTotal HMBS payoff speeds in February were a tad slower than those in January; Mandatory Purchases and natural payoffs were approximately 9.2% and 6.5% per annum, respectively. February payoffs totaled about $792 million compared to January’s $814 million. Outstanding HMBS decreased slightly to $58.7 billion. As mentioned in previous blogs, Ginnie Mae took over RMF’s…