HECM Endorsement Analytics – July 2022

July saw 4,928 HECMs endorsements, the first time endorsements dropped below 5,000 units since October 2021. Longbridge Financial and Traditional Mortgage Group both had endorsement counts increase 30% over June, but the other lenders all experienced meaningful unit count drops.  Our complete report can be found here:  NV Endorsement 2022_07.

The Santa Ana Homeownership Center saw a 23.8% drop in endorsements, while the other offices experienced drops near 10%. Without exception, all major western field offices, including Los Angeles, Phoenix, Las Vegas, Santa Ana, San Francisco, and San Diego, saw significantly fewer endorsements than June.

HUD’s June Endorsement Snapshot Report was just released on its website. As expected, HECM refi volume declined again, now accounting for less than 42% of all endorsements. Expect this trend to continue, especially with now slowing HPA.

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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