{"id":1835,"date":"2021-08-10T08:57:16","date_gmt":"2021-08-10T12:57:16","guid":{"rendered":"https:\/\/www.newviewadvisors.com\/commentary\/?p=1835"},"modified":"2021-08-10T08:57:17","modified_gmt":"2021-08-10T12:57:17","slug":"hmbs-july-2021-part-ii-summer-of-big-numbers-continues","status":"publish","type":"post","link":"https:\/\/newviewadvisors.com\/commentaries\/2021\/08\/10\/hmbs-july-2021-part-ii-summer-of-big-numbers-continues\/","title":{"rendered":"HMBS July 2021 Part II: Summer of Big Numbers Continues"},"content":{"rendered":"<p>Outstanding HMBS rose to a record $56.6 billion in July 2021, as high levels of both issuance and HECM loan payoffs continued. HMBS payoffs once again exceeded $1.1 billion. Outstanding HMBS rose by about $90 million. These big numbers reflect continued high levels of refinancing, as low rates and high home prices allow more homeowners to borrow new, larger HECM loans.<\/p>\n<p>In 2019, HMBS posted its lowest annual issuance total in five years. But in 2020, low interest rates and a higher lending limit boosted production significantly to a near-record $10.6 billion. After seven months, HMBS new issuance already totals almost $7 billion, on pace to exceed $11 billion in 2021.<\/p>\n<p>Our friends at <a href=\"https:\/\/www.recursionco.com\">Recursion<\/a> broke down the prepayment numbers further: last month\u2019s 98% MCA mandatory purchases totaled $222 million, only 19.6% of total payoffs.<\/p>\n<p>New View Advisors compiled this data from publicly available Ginnie Mae data as well as private sources.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Outstanding HMBS rose to a record $56.6 billion in July 2021, as high levels of both issuance and HECM loan payoffs continued. HMBS payoffs once again exceeded $1.1 billion. Outstanding HMBS rose by about $90 million. These big numbers reflect continued high levels of refinancing, as low rates and high home prices allow more homeowners [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1835","post","type-post","status-publish","format-standard","hentry","category-hmbs"],"_links":{"self":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/comments?post=1835"}],"version-history":[{"count":2,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1835\/revisions"}],"predecessor-version":[{"id":1841,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1835\/revisions\/1841"}],"wp:attachment":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/media?parent=1835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/categories?post=1835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/tags?post=1835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}