HECM Endorsement Analytics – November 2021

HECM endorsements dropped slightly in November to 4,953 loans, bringing the total year-to-date endorsement count to 47,802 loans, exceeding the 44,661 loans endorsed during all of 2020. Our report can be found here: NV Endorsement 2021_11. There are no notable changes in the rankings of top lenders.

HUD’s October Endorsement Snapshot Report was just released on its website. Ennkar was the most active wholesale originator, endorsing 133 loans sponsored by another company, followed by South River Mortgage and Fairway Independent Mortgage with 127 and 108 loans, respectively. After dropping slightly over the last two months, refinancings once again accounted for more than half of all endorsements. There is no sign of weakening in refinancing activity, and it will only be fueled further by next year’s Maximum Claim Amount, an astonishing $970,800.

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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