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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – August 2023The New View Advisors and Recursion August 2023 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 08_2023. 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…
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Read more: HMBS August 2023 Part II: Slump SustainedHMBS payoffs increased in August, as Mandatory Purchases continued to rise and natural payoffs increased to approximately 8.2% per annum. August payoffs totaled about $980 million. Outstanding HMBS fell for the seventh month in a row and is now under $59 billion for the first time in a year due to continued weak issuance. Higher…
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Read more: HECM Endorsement Analytics – August 2023Endorsement count has increased four months in a row, to 2,980 in August, more than a 50% jump since February’s low of 1,963. Our full report can be found here: NV Endorsement 2023_08. A trickle of endorsements are labeled as Bloom Retirement Holdings, AAG’s post-close entity, including this month’s 49 loans. Altogether Bloom has been…
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Read more: HMBS August 2023: I Know What You Didn’t Do Last SummerThe HMBS new issue market improved over July with a small rebound in August, but overall it’s been a bad summer. HECM Mortgage-Backed Securities (“HMBS”) issuance totaled $572 million in August, up from July’s $518 million. 97 pools were issued, low by historical standards. On November 30 of last year, Reverse Mortgage Funding (“RMF”), the…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – July 2023The New View Advisors and Recursion July 2023 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 07_2023. 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…
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Read more: HMBS July 2023 Part II: Summer DoldrumsHMBS payoffs fell in July, as Mandatory Purchases continued to rise and natural payoffs fell to approximately 8% per annum. July payoffs totaled about $950 million. Outstanding HMBS fell for the sixth month in a row to just over $59.1 billion due to weak issuance. As is widely known, Ginnie Mae took over RMF’s HMBS…
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Read more: HECM Endorsement Analytics – July 2023Please find our full July HECM Endorsement Analytics report here: NV Endorsement 2023_07.
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Read more: HMBS July 2023: Fireworks Fizzle in Market Without SizzleThe HMBS new issue market posted a weak tally in July 2023 as both tail issuance and new loan production declined. HECM Mortgage-Backed Securities (HMBS) issuance totaled $518 million in July, down significantly from June’s $589 million. 87 pools were issued, also low by historical standards. On November 30 of last year, Reverse Mortgage Funding…
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Read more: New View Advisors and Recursion Reverse Mortgage Prepayment Indices – June 2023The New View Advisors and Recursion June 2023 expanded HECM reverse mortgage prepayment indices can be found here: New View Advisors Recursion Cohort Speeds 06_2023. 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…
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Read more: HMBS June 2023 Part II: June GloomHMBS payoffs rose in June as Mandatory Purchases continued to rise, and natural payoffs fell slightly to just under 9% per annum. June payoffs totaled about $1 billion. Outstanding HMBS fell for the fifth month in a row to just under $59.3 billion due to weak issuance. Higher interest rates finally caught up with the…