HECM Endorsement Analytics – March 2022

6,510 HECMs were endorsed in March, the first time monthly endorsements exceeded 6,000 since late 2017, when the industry was racing to close loans before ML 2017-12 took effect. The March tally is an impressive 26.3% increase over February. Increases were across the board geographically, and among top lenders. Our report can be found here: NV Endorsement 2022_03.

HUD’s February Endorsement Snapshot Report was just released on its website. As interest rates continue to rise, the average interest rate on HECMs appears to have passed its trough.  H2H refis remain high.

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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