HECM Endorsement Analytics – December 2022

December HECM endorsement volume fell again, to 2,786 units, nearly half the unit count from a year ago, and the lowest tally since late 2019. Geographically, the monthly decline was greatest in the Santa Ana Homeownership Center at -21.4%; the decline in the Atlanta Homeownership Center was down just 0.6%. Our report can be found here: NV Endorsement 2022_12.

HUD’s November Endorsement Snapshot Report was just released on its website. HECM refis fell to 17.2% of all endorsements. Despite the dramatic decline since the start of 2022, refinance volume is still higher than the all-time lows recorded during 2018 and 2019 when H2H refis accounted for just 5% of total 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 of our WBWFW report are at the end of the 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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