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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – February 2022The New View Advisors and Recursion February 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 02_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 February 2022 Part II: Another Issuer ExitsOutstanding HMBS rose to an all-time high of $57.6 billion in February 2022 as issuance outpaced another refinance-driven month of payoffs. HMBS payoffs exceeded $1 billion for the twelfth month in a row. Outstanding HMBS rose by about $288 million. Our friends at Recursion broke down the prepayment numbers further: last month’s 98% MCA mandatory…
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Read more: HECM Endorsement Analytics – February 20225,153 HECMs were endorsed in February, a 10.7% drop from January’s 5,771 HECM endorsements, but still the longest sustained period of 5,000+ monthly endorsements since before financial assessment began. All top originators experienced volume declines from January including AAG endorsing 1,495 loans, down 7%, FAR endorsing 407 loans, down 23%, and RMF endorsing 475 loans,…
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Read more: HMBS February 2022: For HMBS Issuers, Every Day is Valentine’s DayHMBS issuers continued their torrid pace to start the New Year. February saw again nearly $1.4 billion in new HMBS issuance, almost setting a record for new original loan pools for the fifth month in row. Refinancing activity continues to be strong. HMBS issuance totaled $13.2 billion for 2021, 22% more than the previous record…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – January 2022New View Advisors and Recursion January 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 01_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 dollar…
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Read more: HMBS January 2022 Part II: New Year’s Resolutions Are Hard to KeepOutstanding HMBS rose to an all-time high of $57.3 billion in January 2022 as issuance outpaced another big refinance-driven month of payoffs. If the industry resolved to shake off its dependence on refinancings in 2022, that New Year’s resolution (like most others) was broken before February arrived. Driven by high levels of refinancing, HMBS payoffs…
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Read more: HECM Endorsement Analytics – January 2022There were 5,771 HECM endorsements in January, the highest monthly tally since January 2018. Philadelphia saw the largest monthly increase of 36.4%, with 723 endorsements. Santa Ana, Denver, and Atlanta saw increases from December of 11.5%, 4.6%, and 2.4% respectively. Our report can be found here: NV Endorsement 2022_01. HUD’s December Endorsement Snapshot Report was…
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Read more: HMBS January 2022: New Year Continues Blizzard of New IssuanceHMBS issuers continued their torrid pace to start the New Year. January saw nearly $1.4 billion in new HMBS, setting a record for new original loan pools for the fourth month in row. Refinancing activity continued to be strong. January’s production of original new loan pools was a record $1.18 billion, edging December’s $1.14 billion,…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – December 2021New View Advisors and Recursion December 2021 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 12_2021. 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 dollar…
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Read more: HMBS December 2021 Part II: Refinancing Is the Holiday Guest That Won’t LeaveOutstanding HMBS rose to an all-time high of $57.1 billion in December 2021 as record issuance outweighed another big, refinance-driven month of payoffs. Meanwhile, extraordinary levels of both issuance and HECM loan payoffs continued. Fueled by refinancing, HMBS payoffs exceeded $1 billion for the tenth month in a row. Outstanding HMBS rose $310 million despite…