New View Releases Reverse Mortgage Securities Data by Loan Pool

New View Advisors is expanding its monthly commentary coverage to include reverse mortgage securities data relating to monthly distribution of pool level prepayment data.

Nearly $49.9 billion of HMBS have been issued through February 2014, according to Ginnie Mae data analyzed by New View. Home equity conversion mortgage-backed securities (HMBS) are Ginnie Mae-guaranteed securities backed by pools of federally-insured reverse mortgage. 

Ginnie Mae Securities are listed by pool number using the “Dollar Amount Method,” which measures prepayment rates by the dollar amount repaid, rather than the number of loans or participations that pay off in a given period. 

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Other data fields include issuer name, date issued, original principal balance, unpaid principal balance, loan type, and weighted average coupon. The report, compiled by New View Advisors using publicly-available Ginnie Mae data, also includes fields for 1, 3, 6, and 12 month constant prepayment rates, number of participations, and single monthly mortality. 

This data has not historically been available, New View told RMD, adding that it intends to update and post the prepayment data on a monthly basis and will track both historical and new issue performance.

Access New View’s report on HMBS prepayment speeds. 

Written by Alyssa Gerace