While reverse mortgage endorsements sharply declined in August, HMBS issuance remains high and could be on track to break another full-year record.
New View Advisors
July brings yet another month of volume at over 4,000 loans, yet concern among analysts remains over reverse mortgage refinance activity.
Reverse mortgage industry performance data for new endorsement volume and securities issuance are generally strong, though a shadow of concern may be starting to develop in the trends according to analysts who spoke with RMD.
Reverse mortgage endorsement volume and securities issuance saw a noticeable rise in May according to data analysts, but it comes with the continued caveat about high levels of refinance volume bolstering the industry.
Members of NRMLA’s executive committee offered an update for the reverse mortgage industry’s efforts to move away from the LIBOR index, and toward the preferred SOFR index for adjustable-rate reverse mortgages.
April 2021 proved to be a generally strong month for the reverse mortgage business, in spite of a very slight reduction in HECM volume. Still, one analyst cautions against excessive refinances on newly-originated HECMs.
Both reverse mortgage endorsement volume and HMBS issuance recorded increases in March, on the heels of positive HECM program news in the MMI Fund. RMD speaks with an industry analyst about these developments.
In its Q1 2021 report on the MMI Fund, HUD details that reverse mortgage volume has fallen though the program’s budget execution subsidy has improved.
Reverse mortgage endorsement volume ticked downward in February while HMBS issuance held steady. Data indicates that reverse mortgages continue to perform well, according to analysts from Reverse Market Insight and New View Advisors.
Home Equity Conversion Mortgage (HECM) endorsements in January recorded a very strong increase at the beginning of the year, rising 10.8% to 4,539 loans. This makes January 2021 volume the highest that the industry has seen since May 2020, which marked an explosive increase in volume to over 5,000 loans. January also marks a continued […]
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