HECM Endorsement Analytics – June 2022

5,937 HECMs were endorsed in June, off 8.8% from the March high but up 2.7% from May. The next few months will certainly reveal the impact of rising rates and HPA burnout. Our complete report can be found here: NV Endorsement 2022_06.

HUD’s May Endorsement Snapshot Report was just released on its website. As previously noted, H2H Refis and Traditional HECMs have contributed equally to endorsement volume since late 2020. With rates rising and HPA slowing, HECM refinance volume will slow. Only the never-ending MCA lending limit increases every December can keep refi volume from falling of a cliff.

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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