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Read more: HECM Endorsement Analytics – August 20213,679 HECM loans were endorsed in August, a 14.3% drop from July and the first month below 4,000 units since November 2020. Our summary report can be found here: NV Endorsement 2021_08. Most of the top originators had significantly fewer endorsements, notably AAG with 1,194 and RMF with just 427, 22.8% and 26.6% declines from…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – August 2021New View Advisors and Recursion August 2021 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 08_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 August 2021: Endless Summer of Big IssuanceHMBS issuers posted strong totals in August, with issuance volume strikingly similar to July. There was just under $1.1 billion in new HMBS, as refinancing activity continued to be strong. 107 pools were issued in August, including 42 first-participation CMT pools. Before January 2021 no new first-participation CMT pools had been issued for many years.…
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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…