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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…
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Read more: HECM Endorsement Analytics – December 2021December finished with a record monthly HECM endorsement count for 2021 of 5,218 loans, bringing the total annual endorsement count to 53,020 units, exceeding by 18.7% the 44,661 HECMs endorsed in 2020. AAG, RMF and FAR accounted for 52.3% of all HECMs endorsed in 2021, slightly higher than the 50.7% seen in 2020. Our report…
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Read more: 2021 Full Year HMBS Issuer League Tables – Portfolio Sale Upends the RankingsReverse Mortgage Funding became the #1 HMBS issuer in 2021, with $4.09 billion issued and near 31% market share, due in part to its acquisition of AAG’s HMBS portfolio during the quarter. Ginnie Mae gives full issuance credit to the surviving/purchasing HMBS Issuer. FAR remained in second with $2.83 billion issued and 21.4% market share,…
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Read more: HMBS December 2021: Issuers Close Books on Record Breaking YearHMBS issuers rewrote the records books again in December. Nearly $1.5 billion in new HMBS was issued, finishing a record year and setting a record for new original loan pools for the third month in row. Refinancing activity continued to be strong. 123 pools were issued in December, including 54 first-participation CMT pools. Before January…
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Read more: HECM Endorsement Analytics – November 2021HECM endorsements dropped slightly in November to 4,953 loans, bringing the total year-to-date endorsement count to 47,802 loans, exceeding the 44,661 loans endorsed during all of 2020. Our report can be found here: NV Endorsement 2021_11. There are no notable changes in the rankings of top lenders. HUD’s October Endorsement Snapshot Report was just released…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – November 2021New View Advisors and Recursion November 2021 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 11_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 November 2021 Part II: Santa Comes Early With Sack Full of Deals … and Refi Naughty ListOutstanding HMBS remained near its all-time high of $56.8 billion in November 2021 as a slew of big issuer transactions shuffled the deck, with AAG selling nearly all its HMBS issuer portfolio to Reverse Mortgage Funding and Mr. Cooper Group selling its HMBS portfolio, along with its reverse mortgage assets, to Mortgage Assets Management, LLC…
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Read more: HMBS November 2021: Issuers Give Thanks for Record-Smashing MonthHMBS issuers rewrote the records books in November, posting yet another $1.2 billion month and setting new HMBS records for both total annual issuance and monthly original loan pools. Refinancing activity continued to be strong. 96 pools were issued in November, including 52 first-participation CMT pools. Before January 2021 no new first-participation CMT pools had…