HMBS issuers rewrote the records books in November, posting yet another $1.2 billion month and setting new HMBS records for both total annual issuance and monthly original loan pools. Refinancing activity continued to be strong. 96 pools were issued in November, including 52 first-participation CMT pools. Before January 2021 no new first-participation CMT pools had been issued for many years.<\/p>\n
With November\u2019s activity, HMBS issuance now stands at $11.7 billion for 2021, an all-time record. The previous all-time HMBS annual volume year was 2010, with $10.8 billion issued.<\/p>\n
November\u2019s production of original new loan pools was a record $1.08 billion, edging out October\u2019s previous record $1.07 billion. Approximately $765 million in original new loan pools were issued in November 2020.<\/p>\n
November issuance divided into 63 first-participation or original pools, and 33 tail pools. Original pools are those HMBS pools backed by first participations in previously uncertificated HECM loans. Tail HMBS issuances are HMBS pools consisting of subsequent participations. Tails are not from new loans, but they do represent new amounts lent. Tail HMBS issuance is essential for HMBS issuers to finance their monthly advances, such as borrower draws and FHA mortgage insurance premiums. Last month\u2019s tail pool issuances totaled $148 million, below the typical range.<\/p>\n
New View Advisors compiled this data from publicly available Ginnie Mae data as well as private sources.<\/p>\n","protected":false},"excerpt":{"rendered":"
HMBS issuers rewrote the records books in November, posting yet another $1.2 billion month and setting new HMBS records for both total annual issuance and monthly original loan pools. Refinancing activity continued to be strong. 96 pools were issued in November, including 52 first-participation CMT pools. Before January 2021 no new first-participation CMT pools had […]<\/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-1902","post","type-post","status-publish","format-standard","hentry","category-hmbs"],"_links":{"self":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1902","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=1902"}],"version-history":[{"count":2,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1902\/revisions"}],"predecessor-version":[{"id":1905,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1902\/revisions\/1905"}],"wp:attachment":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/media?parent=1902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/categories?post=1902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/tags?post=1902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}