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Read more: HMBS August 2020: Summer of Love for New IssuanceHMBS issuance totaled $859 million in August 2020, marking another banner month. Helped by a recovered capital market and low interest rates, HMBS issuers continued a streak of robust production. 80 pools were issued in August. Reverse mortgage lenders weathered a long period of reduced new origination volume, primarily due to the new lower PLFs…
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Read more: HMBS July 2020 Part II: About That Equilibrium …Outstanding HMBS rose by about $686 million in July, as payoffs fell and issuance continued to grow. Payoffs totaled approximately $877 million, as mandatory purchases continued to fall. Total outstanding HMBS rose to over $55 billion, the highest total in 18 months. Is this the end of the HMBS range-bound equilibrium of the last year…
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Read more: HECM Endorsement Analytics – July 2020HUD’s July 2020 HECM Endorsement Summary Report shows no signs of HECM endorsements slowing down: NV Endorsement 2020_07. July closed out with 4,256 endorsements, the third consecutive month over 4,000. The last time this happened was in the fourth quarter of 2017, during the surge of volume associated with Mortgagee Letter 2017-12. Based on 12-month endorsement…
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Read more: HMBS July 2020: Fireworks Go BoomHMBS issuance totaled $1.42 billion in July 2020, nearly a record month and the highest since February 2018. Strong new production and a large seasoned pool led the way. Helped by a continuing recovery in the capital markets and low interest rates, HMBS issuers easily surpassed June’s totals. 77 pools were issued in July. Reverse…
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Read more: HMBS June 2020 Part II: HMBS Float Remains in Equilibrium Just Above $54 BillionOutstanding HMBS fell by $15 million in June, as payoffs rose and issuance remained strong. Payoffs totaled approximately $927 million, consistent with average monthly payoffs over the last year. Total outstanding HMBS remains at $54.4 billion. Over the last year and a half, this HMBS total has been in a state of equilibrium where new…
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Read more: 2020Q2 HMBS Issuer League Tables – AAG Maintains Its LeadAAG maintained its lead in 2020Q2 HMBS issuer rankings, with $1.23 billion of issuance and 27.7% market share. RMF squeaked past FAR into second, with $842.7 million issued and 19% market share. FAR at third had $829.5 million issued and 18.7% market share. PHH Mortgage stayed in fourth, with $590.6 million and 13.3% market share,…
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Read more: HECM Endorsement Analytics – June 2020HUD’s June 2020 HECM Endorsement Summary Report shows another strong print with a total of 4,209 endorsements, our summary report of which can be found here: NV Endorsement 2020_06. June is lower than May’s 5,038 count, but as mentioned previously the last two months’ volume figures have been skewed by disruptions caused by COVID-19. During…
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Read more: HMBS June 2020: No June Swoon, Too Soon to Call It a Boom? High Noon with LIBOR Looms.HMBS issuance totaled $766 million in June 2020, with strong new production again leading the way. Helped by a recovery in the capital markets, HMBS issuers essentially equaled May’s strong total and surpassed May in new production issuance. 82 pools were issued in June. There were no highly seasoned pools issued. Reverse mortgage lenders weathered…
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Read more: HMBS May 2020 Part II: Float Remains in Equilibrium Just Above $54 BillionOutstanding HMBS rose $150 million in May, as payoffs fell and issuance remained strong. Payoffs totaled approximately $770 million, down about $20 million from last month. Total outstanding HMBS has inched up to $54.4 billion. Over the last 18 months, HMBS float has been in a state of equilibrium where new issuance and interest roll-up…
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Read more: HECM Endorsement Analytics – May 2020HUD’s May 2020 HECM Endorsement Summary Report shows a total of 5,038 endorsements, the highest monthly endorsement tally we’ve seen in over two years, and a 215% increase from last month’s 1,601. Our summary and analysis can be found here: NV Endorsement 2020_05. Granted, a significant portion of this month’s endorsement volume is likely backlog…