{"id":1874,"date":"2021-10-13T09:24:45","date_gmt":"2021-10-13T13:24:45","guid":{"rendered":"https:\/\/www.newviewadvisors.com\/commentary\/?p=1874"},"modified":"2021-10-13T09:24:45","modified_gmt":"2021-10-13T13:24:45","slug":"hmbs-september-2021-part-ii-big-summer-concludes","status":"publish","type":"post","link":"https:\/\/newviewadvisors.com\/commentaries\/2021\/10\/13\/hmbs-september-2021-part-ii-big-summer-concludes\/","title":{"rendered":"HMBS September 2021 Part II: Big Summer Concludes"},"content":{"rendered":"<p>Outstanding HMBS rose to a record $56.7 billion in September 2021, as high levels of both issuance and HECM loan payoffs continued. HMBS payoffs once again exceeded $1 billion, for the seventh month in a row. Outstanding HMBS increased by about $106 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 2020\u2019s low interest rates and higher lending limits boosted production to a near-record $10.6 billion. As mentioned in previous blogs, for the first nine months of 2021, HMBS new issuance already exceeds $9 billion, on pace to set a new annual volume record.<\/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 $238 million, only 19.8% of the total.<\/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 $56.7 billion in September 2021, as high levels of both issuance and HECM loan payoffs continued. HMBS payoffs once again exceeded $1 billion, for the seventh month in a row. Outstanding HMBS increased by about $106 million. These big numbers reflect continued high levels of refinancing, as low rates [&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-1874","post","type-post","status-publish","format-standard","hentry","category-hmbs"],"_links":{"self":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1874","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=1874"}],"version-history":[{"count":2,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1874\/revisions"}],"predecessor-version":[{"id":1879,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1874\/revisions\/1879"}],"wp:attachment":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/media?parent=1874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/categories?post=1874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/tags?post=1874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}