Original pools are those HMBS pools backed by first participations in previously uncertificated HECM loans. Approximately $693 million in original new loan pools were issued a year ago, in February 2021.ĩ8 pools were issued in February: 53 first-participation or original pools, and 45 tail pools. With two months in the books, HMBS issuance is on a pace to beat that in 2022.įebruary’s production of original new loan pools totaled $1.12 billion, just shy of January’s record $1.18 billion, and consistent with December’s $1.14 billion, November’s $1.08 billion and October’s $1.07 billion.
HMBS issuance totaled $13.2 billion for 2021, 22% more than the previous record set in 2010, with $10.8 billion issued. Refinancing activity continues to be strong. February saw again nearly $1.4 billion in new HMBS issuance, almost setting a record for new original loan pools for the fifth month in row. HMBS issuers continued their torrid pace to start the New Year. The dataset is more complete and timely than what endorsement analysis alone can show. These reports together provide accurate insight for sales and marketing teams to learn just who’s buying what from whom. –Top 100 Trends – a breakdown of loan sales by month, by Top-100 lender, by HMBS issuer.Įdited samples from our WBWFW report are at the end of this endorsement writeup. –WBWFW – an alphabetical cross-reference between every lender and the HMBS issuer that securitizes its loans –Top Originators – a ranking by original HECM UPB of all lenders over the last twelve months The report compiles publicly available Ginnie Mae data to show which HMBS issuers buy HECMs from which lenders. New View Advisors offers its Who Buys What From Whom (WBWFW) report as part of our endorsement report subscription. There has been no slowing down in HECM refinance activity, continuing to outpace traditional HECM endorsement volume. HUD’s January Endorsement Snapshot Report was just released on its website.
Our report can be found here: NV Endorsement 2022_02. All top originators experienced volume declines from January including AAG endorsing 1,495 loans, down 7%, FAR endorsing 407 loans, down 23%, and RMF endorsing 475 loans, down 1%. 5,153 HECMs were endorsed in February, a 10.7% drop from January’s 5,771 HECM endorsements, but still the longest sustained period of 5,000+ monthly endorsements since before financial assessment began.
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