HECM Endorsement Analytics – April 2021

4,187 HECM loans were endorsed in April, less than a percent lower than last month’s 4,220 units.  The top three lenders combined saw 213 fewer endorsements than March, while smaller lenders’ endorsement counts rose, making up most of the difference.  By region, only Denver saw an increase, with 117 endorsements more than March.  Every other region experienced a decrease in endorsement volume.  Our report can be found here: NV Endorsement 2021_04

HUD’s March Endorsement Snapshot Report is now available on HUD’s website.  South River Mortgage, based in MD, has emerged as a leading wholesale originator.  Founded in 2019, the company originated only a handful of HECMs until 2020 but has originated 100+ loans each month in 2021.  Over the past 12 months, South River posted 800 HECM endorsements sponsored by another party, second only to Fairway Independent Mortgage Corporation.

New View Advisors continues to offer its Who Buys What From Whom (WBWFW) report as part of our endorsement report subscription.  The report compiles publicly available Ginnie Mae dollar volume data to show which HMBS issuers buy HECMs from which lenders.  The WBWFW report includes:

Top Originators – a ranking by original HECM UPB of all lenders over the last twelve months

WBWFW – an alphabetical cross-reference between every lender and the HMBS issuer that securitizes its loans

Top 100 Trends – a breakdown of loan sales by month, by Top-100 lender, by HMBS issuer.

Edited samples from this month’s WBWFW report are at the end of our endorsement writeup. These reports together provide accurate insight for sales and marketing teams to learn just who’s buying what from whom. The dataset is more complete and timely than what endorsement analysis alone can show.

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