HECM Endorsement Analytics – August 2021

3,679 HECM loans were endorsed in August, a 14.3% drop from July and the first month below 4,000 units since November 2020. Our summary report can be found here: NV Endorsement 2021_08.  Most of the top originators had significantly fewer endorsements, notably AAG with 1,194 and RMF with just 427, 22.8% and 26.6% declines from July, respectively.

HUD’s July Endorsement Snapshot Report is now available on its website. HECM refi volume hit another milestone, exceeding 50% of all endorsements for the first time. Next month’s data will show if the August endorsement drop was driven by less refinance activity. Refinance burnout could have a material impact on overall endorsement volume.

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 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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