HECM Endorsement Analytics – November 2022

The downward trend continues in HECM endorsement count, which fell 7% to 3,272 units in November. Reverse Mortgage Funding (RMF) filed for bankruptcy Wednesday, the impact of which will start to reveal itself in next month’s tallies. Our report can be found here: NV Endorsement 2022_11.

HUD’s October Endorsement Snapshot Report was just released on its website. HECM refinance activity dropped to 20% of total endorsements. RMF had been one of the most active in sponsoring loans originated by another party. It remains to be seen who will take over after their departure from the industry.

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 WBWFW report samples 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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