HECM Endorsement Analytics – March 2021

March HECM Endorsements came in at 4,220 units. Over the past year, HECM endorsement activity has been fairly stable, averaging slightly below 4,000 endorsements each month. Our analysis can be found here:  NV Endorsement 2020_03.  The top eight originators now account for 79% of endorsement volume. American Advisors Group has approximately one third of the market, followed by Finance of America Reverse and Reverse Mortgage Funding, each accounting for approximately 10% of endorsement count volume.

HUD’s February Endorsement Snapshot Report is also now available on HUD’s website. HECM to HECM refis dropped slightly, to 1,434 endorsements from January’s record high 1,651 endorsements. 10-year treasury rates continued to climb in March, however HECM endorsement volume does not yet reflect any impact from rising interest rates.

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.

Comments are closed.