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Read more: HECM Endorsement Analytics – January 2024There were 2,153 endorsements in January 2024, slightly lower than the 2,190 loans from December. The top three lenders started the year with 497, 591, and 258 endorsements, respectively, accounting for 62.5% of all endorsements. Our full report can be found here: NV Endorsement 2024_01. HUD’s November Endorsement Snapshot Report was just released on its…
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Read more: HMBS January 2024: Unhappy New YearThe HMBS new issue market was slightly lower in January compared to December. HECM Mortgage-Backed Securities (“HMBS”) issuance totaled $445 million in January, $12 million lower than December’s $457 million. 79 pools were issued in each of January and December. Except for the early days of Ginnie Mae’s HMBS program (2009 and prior), January’s $445…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – December 2023The New View Advisors and Recursion December 2023 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 12_2023. 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 December 2023 Part II: Will Boring New Year’s Eve Party Bring Sobriety to RM Industry?HMBS payoff speeds in December were basically unchanged from November; Mandatory Purchases and natural payoffs were approximately 9.9% and 6.2% per annum, respectively. December payoffs totaled about $819 million compared to November’s $825 million. Outstanding HMBS decreased slightly and remains just under $59 billion. As mentioned in previous blogs, Ginnie Mae took over RMF’s HMBS…
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Read more: HECM Endorsement Analytics – December 2023New View Advisors’ HECM Endorsement Analytics Report for December 2023 can be found here: NV Endorsement 2023_12
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Read more: 2023 Full Year HMBS Issuer League TablesFAR keeps the crown as lead HMBS issuer for 2023, with $2.39 billion issued and 36.9% market share. Longbridge was second, with $1.39 billion issued and 21.5% market share, PHH was third with $1.05 billion issued and 16.3% market share, and Mutual of Omaha was fourth with $967.5 million issued and 14.9% market share. Rank…
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Read more: HMBS December 2023: Coal in the StockingThe HMBS new issue market was substantially off in December compared to November. HECM Mortgage-Backed Securities (“HMBS”) issuance totaled $457 million, $104 million lower than November’s $561 million. 79 pools were issued in December compared to 110 in November. With the exception of March 2023, December’s issuance is the lowest since 2014. FAR was the…
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Read more: Fascinating HECM Statistics of 2023Here are some interesting facts and figures from FHA and Ginnie Mae’s 2023 Fiscal Year-End reports, as well as Fannie Mae’s 3rd Quarter report. We include our views on what the numbers tell us. FHA’s recent report, “Financial Status of the FHA Mutual Insurance Fund FY 2023” (the “MMI Report”), showed that the HECM program’s…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – November 2023The New View Advisors and Recursion November 2023 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 11_2023. 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 November Part II: Prepayments Fall SignificantlyHMBS payoff speeds decreased in November; Mandatory Purchases and natural payoffs were 10.0% and 6.1% per annum, respectively. November payoffs totaled about $825 million. Outstanding HMBS increased slightly and remains just under $59 billion. As mentioned in previous blogs, Ginnie Mae took over RMF’s HMBS portfolio last December. “Ginnie Mae – Reverse Mortgage Funding 42”…