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Read more: HMBS June 2024: HMBS 2.0 – Cure For The Summertime Blues?The HMBS new issue market fell in June. HECM Mortgage-Backed Securities (“HMBS”) issuance totaled $497 million, $29 million lower than May’s $526 million. 86 pools were issued in both June and May. HMBS issuance remains near historical lows, comparing monthly issuance dating back to 2010. Ginnie Mae published its “HMBS 2.0” Term Sheet for comment…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – May 2024The New View Advisors and Recursion May 2024 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 05_2024. The indices are derived from underlying HECM data in HMBS made public by Ginnie Mae, as well as private sources. This expanded set of prepayment data is calculated using dollar…
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Read more: HMBS May 2024 Part II: FAR AheadFinance of America has replaced Ginnie Mae as the top HMBS Issuer of record, with $17.2 billion, or about 29.5% of all outstanding HMBS. Along with Ginnie Mae (29%), Longbridge (14%), and Onity (13%), the top four Issuers account for 86% of outstanding HMBS. As mentioned in previous blogs, Ginnie Mae took over RMF’s HMBS…
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Read more: HECM Endorsement Analytics – May 2024May was a strong month, posting 2,460 endorsements. Endorsement activity increased 17% from April, and is at its highest level since October 2023. Our full report can be found here: NV Endorsement 2024_05. HUD’s April Endorsement Snapshot Report was just released. Over the past two months, HECM to HECM refis rebounded slightly, to 9% of…
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Read more: HMBS May 2024: May The Force Be With YouThe HMBS new issue market continued to inch up in May. HECM Mortgage-Backed Securities (“HMBS”) issuance totaled $526 million in May, $23 million higher than April’s $503 million. 86 pools were issued in May, versus 89 in April. Nonetheless, HMBS issuance remains near historical lows, comparing monthly issuance dating back to 2010. FAR was the…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – April 2024The New View Advisors and Recursion April 2024 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 04_2024. The indices are derived from underlying HECM data in HMBS made public by Ginnie Mae, as well as private sources. This expanded set of prepayment data is calculated using dollar…
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Read more: HMBS April 2024 Part II: Not so FAR awayTotal HMBS payoffs in April showed a slight increase over March; overall prepayment speeds increased to 17.9% per annum from February’s 17.6% per annum. Outstanding HMBS decreased to $58.4 billion. As mentioned in previous blogs, Ginnie Mae took over RMF’s HMBS portfolio in December 2022. “Ginnie Mae – Reverse Mortgage Funding 42” remains as issuer…
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Read more: HECM Endorsement Analytics – April 2024There were 2,105 HECM endorsements in April, up slightly from last month’s 2,058 unit count, and in keeping with the flatline trend evidenced over the past six months. Our full report can be found here: NV Endorsement 2024_04. HUD’s March Endorsement Snapshot Report was just released on its website. Movement Mortgage, Atlantic Avenue Mortgage, and…
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Read more: HMBS April 2024: Rates School April FoolsThe HMBS new issue market bounced back in April, with HECM Mortgage-Backed Securities (“HMBS”) issuance totaling $503 million, $56 million higher than March’s $447 million. 89 pools were issued in April and 79 in March. HMBS issuance remains near historical lows with April’s volume being the 10th lowest monthly tally since 2010. FAR was the…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – March 2024The New View Advisors and Recursion March 2024 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 03_2024. The indices are derived from underlying HECM data in HMBS made public by Ginnie Mae, as well as private sources. This expanded set of prepayment data is calculated using dollar…