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Read more: HMBS October 2019 Part II: HMBS Float Drops Below $54 BillionOutstanding HMBS fell by $180 million in October, as continued strong payoffs outweighed a solid issuance month. Payoffs once again totaled just under $1 billion. Total outstanding HMBS fell to $53.9 billion, a three-year low. This is the first month HMBS float has been less than $54 billion since May 2016. Total HMBS float will…
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Read more: Mr. October Comes Through for Team HMBSHMBS issuance totaled $642 million in October 2019, as lower rates continued to strengthen new production. 82 pools were issued in October, including about $426 million of new unseasoned HECM first participation pools, the highest monthly total for new production this year, and the fourth straight monthly increase. Reverse mortgage lenders face a new era…
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Read more: HECM Endorsement Analytics – September 2019HUD’s September 2019 HECM Endorsement Summary Report released this week shows a total of 2,420 endorsements, 3.4% higher than August’s 2,341 units, our writeup of which can be found here: NV Endorsement 2019_09. There was no change in the endorsement count ranking of the top 15 originators from August. Live Well Financial will fall off the…
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Read more: HMBS September 2019 Part II: HMBS Float Falls AgainOutstanding HMBS fell by $182 million in September, as strong payoffs outweighed a decent issuance month. Payoffs once again totaled just under $1 billion. Total outstanding HMBS fell to just over $54.1 billion. Total HMBS float will likely fall further given current trends. HMBS issuance in the first half of 2019 was the lowest half…
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Read more: 2019Q3 HMBS Issuer League Tables – Two Can Play That GameAAG remains the frontrunner HMBS issuer for the third quarter of 2019, with $1.38 billion of issuance and 23% market share. Note AAG’s totals are all new originations, with no highly seasoned pools issued. Longbridge took sole possession of second place with $1.29 billion of issuance and a 21.5% share. Longbridge’s rise in the rankings…
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Read more: HMBS September 2019: Back to School SpecialHMBS issuance totaled nearly $610 million in September, as lower rates continued to strengthen new production. 83 pools were issued in September, including about $393 million of new unseasoned HECM first participation pools, the highest monthly total for new production this year. For comparison, HMBS issuers sold 104 pools totaling $588 million in September 2018.…
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Read more: HECM Endorsement Analytics – August 2019HUD’s August 2019 HECM Endorsement Summary Report shows a total of 2,341 endorsements, 15% lower than July’s 2,754 units, a summary of which can be found here: NV Endorsement 2019_08. Monthly endorsement volume has been fluctuating around 2,500 units since March of 2019. If the industry maintains this pace next month, we’ll tally only about…
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Read more: HMBS August 2019: Issuance Does Not Take a VacationHMBS issuance totaled $637 million in August, as lower rates strengthened new production. 93 pools were issued in August, including about $390 million of new unseasoned HECM first participation pools, the highest monthly total for new production this year. There were no highly seasoned pools issued. Reverse mortgage lenders face a new era of reduced…
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Read more: HMBS July 2019 Part II: HMBS Float RisesOutstanding HMBS rose by nearly $300 million in July, helped by a large new pool backed by highly seasoned Home Equity Conversion Mortgages (“HECMs”). Payoffs once again totaled just under $1 billion. Total outstanding HMBS rose to just under $54.5 billion. Without that one pool, HMBS float would have fallen below $54 billion for the…
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Read more: HECM Endorsement Analytics – July 2019HUD released its July 2019 HECM Endorsement Summary Reports, our summary of which can be found here: NV Endorsement Report 2019_07. HUD’s report shows a total of 2,754 endorsements, 8% higher than June’s 2,546 units. However, the modest increase is more likely a reflection of 2 additional business days in July rather than any fundamental…