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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – March 2021New View Advisors and Recursion March 2021 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 03_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 March 2021 Part II: The Big PayoffOutstanding HMBS fell by about $110 million in March 2021, as payoffs spiked and issuance eased somewhat. Payoffs rose to nearly $1.1 billion, the 7th highest monthly total ever. Total outstanding HMBS is now nearly $56.3 billion. The big payoff reflects continued high levels of refinancing. February was the last month in which GNMA allowed…
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Read more: HECM Endorsement Analytics – March 2021March HECM Endorsements came in at 4,220 units. Over the past year, HECM endorsement activity has been fairly stable, averaging slightly below 4,000 endorsements each month. Our analysis can be found here: NV Endorsement 2020_03. The top eight originators now account for 79% of endorsement volume. American Advisors Group has approximately one third of the…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – February 2021New View Advisors and Recursion February 2021 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 02_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: 2021Q1 HMBS Issuer League Tables – “Top Five” Account for 94% of all IssuanceAAG maintained its #1 HMBS issuer ranking for the first quarter of 2021 with $704.6 million of issuance and 26.3% market share. FAR held on to second with $544.2 million issued and 20.3% market share. Longbridge was third, again just behind FAR, with $541.2 million issued and 20.2% market share, and RMF was fourth with…
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Read more: HMBS March 2021; HECM MMI Fund: As PredictedHMBS issuance remained fairly strong at $858 million in March 2021, the first 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 for new adjustable…
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Read more: HECM Endorsement Analytics – February 20212021 February HECM Endorsements came in at 4,066 units. Losing just one business day from January, February endorsements fell 10.4% over last month’s 4,539 units. Despite this drop, the top two lenders expanded their leads: American Advisors Group had 1,374 endorsements versus 1,287 in January, and Finance of America Reverse had 465 endorsements versus 433…
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Read more: HMBS February 2021 Part II: Farewell to LIBOR ARMsOutstanding HMBS rose by $159 million in February 2021, as issuers rushed to issue new LIBOR pools. February was the last month in which GNMA allowed issuance of HMBS pools backed by first participations of LIBOR-indexed loans. For the time being, the Treasury CMT index replaces LIBOR as the base index for newly originated adjustable-rate…
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Read more: New View Advisors and Recursion Introduce Reverse Mortgage Prepayment IndicesNew View Advisors and Recursion are introducing a set of expanded HECM reverse mortgage prepayment indices, which can be found here: New View Advisors Recursion Cohort Speeds 01_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…
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Read more: HMBS February 2021: Issuance Blizzard Ends LIBOR EraHMBS issuance totaled $872 million in February 2021, as the LIBOR deadline finally arrived. February 2021 was the last month in which Ginnie Mae allowed pooling of new HMBS pools backed by first participations of LIBOR-based HECMs. 92 pools were issued in February; of these, 17 pools totaling $224 million were pools backed by new…