Items Tagged with 'New View Advisors'

ARTICLES

  • Ginnie Mae announces Platinum product for reverse mortgage-backed securities

    New program may increase liquidity in HMBS market
    Ginnie Mae has launched a new securitization channel for reverse mortgage-backed securities. Now, investors in the HECM mortgage-backed securities market can participate in Ginnie’s new Platinum HMBS program, which reduces the administrative costs of holding multiple and smaller HMBS securities and promises to bring more liquidity to the market.
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  • These are the top issuers of reverse mortgage-backed securities

    New View Advisors names biggest players, details low Q1 volume
    As reverse mortgage loan production steadily declines, so too has the issuance of the securities backed by this product on the secondary market. Issuers of HECM-backed securities, or HMBS, brought just under $1.7 billion to market in the first quarter of 2019, according to the latest report from New View Advisors. This is a 44% decline from last year and the lowest total in five years.
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  • Reverse mortgage securities fall to near 5-year low

    Will this downward trend right itself anytime soon?
    In a troubling sign of the poor health of the reverse mortgage market, issuance of HECM-backed securities fell to their lowest level in nearly five years. According to the latest commentary from New View Advisors, reverse mortgage issuance totaled just under $491 million in February and total outstanding HECM-mortgage backed securities fell below $55 million.
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  • Fourth securitization of proprietary reverse mortgages is completely paid off

    In a solid sign of a promising market, investors pocket their principal and interest in full
    A securitized pool of proprietary reverse mortgages paid off completely last week, becoming the fourth pool to close out. New View Advisors said the successful conclusion of another Lehman Brothers' pool is welcome news for those investing in today's proprietary reverse market, which has ramped up in the last year after a long hiatus.
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  • Reverse mortgage securities continue decline

    Issuance totals highlight liquidity concerns
    The latest data on HECM-backed securities shows issuance continued its decline in October, and while HMBS float last month was up slightly to $55.5 billion, most of that can be attributed to highly seasoned collateral and not to new production. This means that it’s only a matter of time before HMBS float falls below the $55 billion mark – a vector that indicates less liquidity for investors.
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  • HECM mortgage-backed securities see $1 billion decline

    HMBS float continues to shrink thanks to record payoffs and low origination volume
    The latest data on HECM mortgage-backed securities reveals issuance is down in the third quarter to $1.7 billion – that’s about a billion less than totals from the previous two quarters. In a recent report, New View Advisors says the industry shouldn't expect this to turn around any time soon as low origination volumes challenge the space.
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  • HECM mortgage-backed securities data reveals low flow and lots of payoffs

    Issuance totals highlight concerns about market health
    The latest data on HECM mortgage-backed securities sheds light on issues plaguing the struggling reverse mortgage industry. A report by New View Advisors reveals a massive, record-breaking wave of payoffs and assignments to HUD. Coupled with low origination volume, this could mean HMBS float will continue to decline, raising liquidity concerns for investors.
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  • Exploring the Strength of the FHA Insurance Fund

    According to analysis by New View Advisors, a financial services firm dedicated to the reverse mortgage industry, the FHA's HECM mortgage insurance fund currently faces a negative net present value (NPV) estimated at $7.3 billion.  The negative analyzes the total MIP collected and compares it to actual realized losses and projected losses from loans originated between 1990-2010.   New View estimates that there are currently about 540,000 HECM loans outstanding with an approximate total outstanding balance of $76 billion.  Comparing the current balances of individual loans to home price data they estimate that 93,000 of those loans are currently
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  • Feature: HMBS as "Holy Grail" of Fixed-Income Securities

    Before the mortgage-sparked national and global financial tsunami of 2008 which swept it and others into the rubbish of financial history, Lehman Brothers’ prowess in mortgage securitization (and all things mortgages) was the envy of Wall Street. For reverse mortgages, in the days when Fannie Mae was the sole buyer of whole HECM loans in the secondary market, Lehman supplied capital to launch the proprietary jumbo reverse mortgage market. It did not stop there. It dug deeper into reverse country with a number of strategic moves: the acquisition and consolidation of portfolio companies, such as Financial Freedom, Unity Mortgage, and
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