HECM Endorsement Analytics – May 2021

4,350 HECM loans were endorsed in May. Monthly endorsement count has remained above the 4,000 mark for six consecutive months, something not seen since the publication of Mortgagee Letter 2017-12. The Santa Ana Homeownership Center (HOC) saw the largest month-over-month endorsement increase of 5.6%; the other three HOCs each experienced month-over-month increases of more than 2.0%. Our report can be found here: NV Endorsement 2021_05.

HUD’s April Endorsement Snapshot Report is now available on their website. Despite interest rates creeping up in 2021, HECM for refinance continues to play a dominant role in endorsement activity; for the first time, refis crossed the 40% of endorsements threshold.

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 timelier than what endorsement analysis alone can show.

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