HECM Endorsement Analytics – September 2022

September’s HECM endorsement volume tanked, to just 3,235 units, approximately half of the high observed in March 2022. Our report can be found here: NV Endorsement 2022_09. Compared to August, top originators American Advisors Group, Finance of America Reverse, and Longbridge Financial saw endorsements drop by 50%, 45%, and 72%, respectively. Mutual of Omaha stood out, as their volume dropped only 7% for the month. By Homeownership Centers, Santa Ana’s endorsement volume dropped 51%, while other centers experienced reductions ranging from 35% to 41%.

HUD’s August Endorsement Snapshot Report was just released on its website. As expected, the share of HECM refis dropped again, down to 32% of all endorsements. Expect this trend to continue.

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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