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National Reverse Mortgage Lenders Association Eastern Regional Meeting
4/5/2016 All Data as of February 2016
HMBS Current State Metrics
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National Reverse Mortgage Lenders Association Eastern Regional - - PowerPoint PPT Presentation
National Reverse Mortgage Lenders Association Eastern Regional - - PowerPoint PPT Presentation
National Reverse Mortgage Lenders Association Eastern Regional Meeting 4/5/2016 All Data as of February 2016 1 HMBS Current State Metrics Portfolio $53.8 Billion UPB 333,060 Loans 9.2M Participations Active Issuers 16 HMBS Issuers
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History of Issuances – Program View
Participations of New Pools Issued OPB ($M) (Millions)
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50,000 100,000 150,000 200,000 250,000 300,000 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 Feb-12 Apr-12 Jun-12 Aug-12 Oct-12 Dec-12 Feb-13 Apr-13 Jun-13 Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15 Jun-15 Aug-15 Oct-15 Dec-15 Feb-16 First Draws Tail Draws Participations
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Recent Issuances – Fixed vs. ARM
OPB ($M)
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$- $200 $400 $600 $800 $1,000 $1,200 $1,400 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 ARM Fixed
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HECM/HMBS Portfolio Growth
Number of Participations Total UPB ($M)
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1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000 10,000,000 $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 Portfolio UPB # Participations in Portfolio
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10,000 20,000 30,000 40,000 50,000 60,000 HMBS UPB Net HMBS Issuance 482% 195% 59% 28% 21% 10% 7%
HMBS Portfolio & Issuance Trends
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Annual Net Portfolio Growth
UPB ($M) 3%
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Borrowers Age Profile and Payment Option of HECM Loans
2% 1% 88% 3% 2% 5% Tenure Term Line of Credit Modified Term Modified Tenure Lump Sum
7 Percentage of Loans (%) Number of Loans
Over two-thirds of HECM borrowers are between 66 and 80 years
- ld, while 3% of the borrowers were over 90, and several were over
100. Nearly nine-out-of-ten HECM loans are line of credits. 5 10 15 20 25 30 35 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Number of Loans Percentage of Total
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Over 45% of the HECM loans had UPBs greater than 75% of the Maximum Claim Amount, while 25% percent were below 50% as of February 2016.
Note: Bottom cutoffs of the stratum are inclusive. For example, 75% - 85% means >= 75% and < 85%
HECM UPB as a Percentage of Maximum Claim Amount
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HECM UPB as a % of Maximum Claim Amount HECM Loan Count % of All Loans HECM Loan Count % of All Loans
< 25% 16,419 5.64% 21,181 6.36% 25% - 50% 31,990 11.00% 60,912 18.29% 50% - 75% 124,745 42.88% 99,916 30.00% 75% - 85% 84,435 29.03% 76,044 22.83% 85% - 95% 29,596 10.17% 64,340 19.32% 95% - 98% 3,690 1.27% 10,662 3.20%
Total
290,887 100.00% 333,060 100.00%
February 2014 February 2016
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Maximum Claim Amount Distribution
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20,000 40,000 60,000 80,000 100,000 120,000 140,000 Feb-14 Feb-16
Loans
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HMBS Buyouts & Payment Activity
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OPB/RPB ($ Millions)
$0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 FY 2012 FY 2013 FY 2014 FY 2015 Mandatory Purchase Events Voluntary Full Payments Partial Payments Other Payments
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HECM State Distribution
Less than
- r equal
to 1.00% Greater than 5.00% 3.01% - 5.00% 1.01% - 3.00%
HECM loans are concentrated in California and Texas, with significant amounts in Florida and New York. 14.6% 8.2% 7.6% 6.0%
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Issuance Concentration
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FY2016 YTD Issuance Concentration Top 3 = 51% Top 5 = 75% Top 10 = 98%
19% 19% 18% 14% 12% 8% 7% 1% 1% 1% 0% 0% 0%
FY 2015 HMBS Issuance
American Advisors Group Reverse Mortgage Solutions, Inc. Urban Financial of America, LLC Reverse Mortgage Funding LLC Liberty Home Equity Solutions, Inc. Live Well Financial, Inc. Nationstar Mortgage LLC Plaza Home Mortgage, Inc. Sun West Mortgage Company, Inc. Bank of America, National Association Cherry Creek Mortgage Company, Inc. CIT Bank, National Association Silvergate Bank
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Portfolio Concentration
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FY2016 YTD Portfolio Concentration Top 3 = 64% Top 5 = 79% Top 10 = 99%
33% 19% 15% 8% 6% 5% 4% 4% 3% 1% 0% 0% 0% 0%
FY 2015 HMBS Portfolio
Nationstar Mortgage LLC Reverse Mortgage Solutions, Inc. Urban Financial of America, LLC Wells Fargo Bank, N.A. American Advisors Group Reverse Mortgage Funding LLC Live Well Financial, Inc. Liberty Home Equity Solutions, Inc. Bank of America, National Association OneWest Bank, N.A. Plaza Home Mortgage, Inc. Sun West Mortgage Company, Inc. Silvergate Bank Cherry Creek Mortgage Company, Inc.
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Ginnie Mae HMBS “Optics”
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HECM-to-HECM Refinances Issuer Net Worth / Liquidity
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HMBS Future State
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