Total HMBS payoff speeds in February were a tad slower than those in January; Mandatory Purchases and natural payoffs were approximately 9.2% and 6.5% per annum, respectively. February payoffs totaled about $792 million compared to January’s $814 million. Outstanding HMBS decreased slightly to $58.7 billion. As mentioned in previous blogs, Ginnie Mae took over RMF’s…

The HMBS new issue market continues its dismal volume in February. HECM Mortgage-Backed Securities (“HMBS”) issuance totaled $429 million in February, $16 million lower than January’s $445 million. 80 pools were issued in February and 79 in January. Except for the early days of the Ginnie Mae HMBS program (2009 and prior), February’s $429 million…

The reverse mortgage industry’s loan production is a shadow of its former self, with lower origination and loan payoff rates that change little from month to month. In the latest scene from Groundhog Day II, HMBS payoff speeds in January were strikingly similar to those in December; Mandatory Purchases and natural payoffs were approximately 10.1%…

The 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…

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…