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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – July 2021New View Advisors and Recursion July 2021 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 07_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 July 2021 Part II: Summer of Big Numbers ContinuesOutstanding HMBS rose to a record $56.6 billion in July 2021, as high levels of both issuance and HECM loan payoffs continued. HMBS payoffs once again exceeded $1.1 billion. Outstanding HMBS rose by about $90 million. These big numbers reflect continued high levels of refinancing, as low rates and high home prices allow more homeowners…
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Read more: HECM Endorsement Analytics – July 2021HECM endorsement activity has been steady over the past 14 months. In July, 4,293 HECM loans were endorsed. AAG, RMF, and FAR, who originated 1,547, 582, and 333 loans respectively, continue to lead our top originators table and account for 53.5% of total endorsement volume. Our report can be found here: NV Endorsement 2021_07. HUD’s…
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Read more: HMBS July 2021: Long Hot SummerHMBS issuers posted another strong month in July with just over $1.1 billion in new issuance, as refinancing activity continued to be strong. 106 pools were issued in July, including 43 first-participation CMT pools. Before January 2021 no new first-participation CMT pools had been issued for many years. The all-time HMBS annual volume year is…
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Read more: HMBS June 2021 Part II: Refi Wave Rolls OnOutstanding HMBS fell to just under $56.5 billion in June, as record HECM loan payoffs outpaced issuance. HMBS payoffs exceeded $1.1 billion, a dollar amount surpassed only by the assignment wave of 2018. For voluntary payments, including refinancings, June 2021 was a record month. Outstanding HMBS fell by about $50 million. The big payoff reflects…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – June 2021New View Advisors and Recursion June 2021 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 06_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: 2021Q2 HMBS Issuer League Tables – “Top Five” Still Account for 94%AAG continued its #1 HMBS issuer dominance for the first six months of 2021 with $1.576 billion of issuance and 27% market share. FAR stayed firmly in second with $1.256 billion issued and 21.5% market share. RMF moved up a notch to third with $997 million issued and 17.1% market share, and Longbridge was fourth…
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Read more: HECM Endorsement Analytics – June 20214,160 HECM loans were endorsed in June 2021, 4.4% lower than May’s 4,350. Endorsement count has been over the 4,000 mark seven consecutive months, something not seen since 2017. Origination volumes of larger lenders have been mostly steady over the past several months. Smaller lenders are experiencing more volatility. Money House originated 82 loans, 83%…
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Read more: HMBS June 2021: School’s Out – Will Refis Take a Vacation?HMBS issuers posted another strong month in June 2021 with just over $1.0 billion in new issuance, as refinancing activity continued to be strong. 102 pools were issued in June, including 40 first-participation CMT pools. Before January 2021 no new first-participation CMT pools had been issued for many years. $10.6 billion in HMBS was issued…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – May 2021New View Advisors and Recursion May 2021 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 05_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…