Reverse mortgage approvals fell 4.4% to 4,160 loans, increasing the series to over 4,000 loans per month, according to data Reverse mortgage daily…
The report, which cited data from Reverse Market Insight, also found that HMBS issued mortgage-backed securities totaled just over $ 1 billion in the four-month period following the LIBOR era.
“Given the dominance of H2H refinancing activity that we are seeing, it seems to me that the industry may be testing the limits of loans available for refinancing at some of the historically higher volumes,” said RMI President John Lunde at RMD. “So, [the industry is] now I’m looking at other parts of the country. “
“I believe the recent months are high enough not to be worrisome, but rather raise concerns that volumes could start a more significant downward trend,” Lunde added, according to RMD. “We’ve seen some decline in earlier metrics such as filed cases and filings, so we just need to see if this continues.”
“For pools of new releases, each month in 2021 is ahead of the same month in previous years,” said Michael McCully, partner at New View Advisors, according to RMD. “June production of new issue pools was approximately $ 600 million in 2017, 2018, 2019 and 2020. In 2021, it amounted to $ 823 million. For total release, the second quarter of 2021 was a quarterly record with $ 3.16 billion issued by HMBS. “