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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…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – April 2022The New View Advisors and Recursion April 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 04_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 April 2022 Part II: April May but May June?HMBS payoffs continued in April, as the refinancing wave diminished slightly but refused to ebb. Instead, April payoffs totaled $1.3 billion, just short of March 2022’s record $1.5 billion. Outstanding HMBS rose to a record $58 billion, with strong new issuance and a faster roll-up from rising interest rates. HECM borrowers continue to refinance in…
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Read more: HECM Endorsement Analytics – April 20226,265 HECMs were endorsed in April, showing just a 3.8% drop from March’s record setting month. Geographically, only Denver saw a volume increase, from 1,295 to 1,536 units, while Atlanta, Philadelphia, and Santa Ana all had small decreases. Our complete report can be found here: NV Endorsement 2022_04. HUD’s March Endorsement Snapshot Report was just…
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Read more: HMBS April 2022: April Showers Bring A New Record, What May Happen Next?HECM Mortgage-Backed Securities (“HMBS”) issuers set another new record in April, issuing over $1.6 billion in new HMBS. This shatters the previous mark by nearly $300 million. Refinancing continues to drive this record HMBS volume. Given the lag between HECM loan origination and HMBS issuance, the new HECMs backing April’s HMBS pools do not fully…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – March 2022The New View Advisors and Recursion March 2022 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 03_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 March 2022 Part II: Refi Wave Refuses To Go QuietlyHMBS payoffs roared in like a lion in March, due to a refinancing wave that refuses to go away. March 2022 smashed previous records with $1.5 billion in payoffs. Because of these payoffs, outstanding HMBS fell to $57.59 billion, despite strong new issuance. HECM borrowers continue to refinance in large numbers, assisted by a higher…