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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…
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Read more: HMBS May 2021 Part II: We’re An All-Time HighOutstanding HMBS rose to a record $56.5 billion in May 2021, as payoffs and issuance remained high. Payoffs and issuance totaled just over $1 billion; total outstanding HMBS rose by just over $120 million, the approximate amount of total negative amortization. The big payoff reflects continued high levels of refinancing. February was the last month…
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Read more: HECM Endorsement Analytics – May 20214,350 HECM loans were endorsed in May. Monthly endorsement count has remained above the 4,000 mark for six consecutive months, something not seen since the publication of Mortgagee Letter 2017-12. The Santa Ana Homeownership Center (HOC) saw the largest month-over-month endorsement increase of 5.6%; the other three HOCs each experienced month-over-month increases of more than…
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Read more: HMBS May 2021: May FlowersHMBS issuers posted another very strong month with just over $1.0 billion of issuance in May, the third month of the post-LIBOR era. February 2021 was the last month in which Ginnie Mae allowed pooling of new HMBS pools backed by first participations of LIBOR-based HECMs. The Constant Maturity Treasury “CMT” index is now the…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – April 2021New View Advisors and Recursion April 2021 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 04_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 April 2021 Part II: The Big Payoff ContinuesOutstanding HMBS rose by about $100 million in April, as payoffs and issuance remained high. Payoffs totaled nearly $1.1 billion, the 3rd highest monthly total ever. Total outstanding HMBS is now nearly $56.4 billion. The big payoff reflects continued high levels of refinancing. February was the last month in which GNMA allowed issuance of HMBS…
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Read more: HECM Endorsement Analytics – April 20214,187 HECM loans were endorsed in April, less than a percent lower than last month’s 4,220 units. The top three lenders combined saw 213 fewer endorsements than March, while smaller lenders’ endorsement counts rose, making up most of the difference. By region, only Denver saw an increase, with 117 endorsements more than March. Every other…
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Read more: HMBS April 2021: April Showers of HMBSHMBS issuers posted a very strong April with nearly $1.1 billion in new issuance, the second month of the post-LIBOR era. February 2021 was the last month in which Ginnie Mae allowed pooling of new HMBS pools backed by first participations of LIBOR-based HECMs. The Constant Maturity Treasury “CMT” index is now the only index…