HECM Endorsement Analytics – August 2022

August’s HECM endorsement count bounced back to 5,727 units, up 16% from last month’s 4,928 count. Longbridge Financial endorsed 931 loans, reaching its all-time high and almost tripling volume from one year ago. Market leader American Advisors Group (AAG) had 1,222 endorsements, 19% lower than the approximate 1,500 units it endorsed 12 months ago. AAG, which has had a consistent market share of 30%+ since 2019, in August accounted for only 21% of total endorsement volume. Our full report can be found here: NV Endorsement 2022_08.

HUD’s July Endorsement Snapshot Report was just released on its website. HECM to HECM refis were 38% of all endorsements, a level not seen since Q4 of 2020. The long term average H2H refi share is 20%, so expect to see more refi burnout as the industry (hopefully) returns to its historical mean.

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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