Thinking the problem is that, those are not Schwinn fenders but Wald, look-a-like, after market. A balloon hornet's fenders are not full size wide and do not have duck tails as other balloon pre 1955 and wasps, streamliner etc. The Deluxe hornet springer, with S2 rims equipped, fenders are not as wide too, they're about 1/4" narrower than full regular sized fenders with duck tail and Ballooner S2 rims.
Then the wide pin stripes and they do not curve near front tip or rear of fender on that fender paint scheme. me tinks Wald's and that's why those balloon fenders fit the bike. Not as wide as normal but Early hornet deluxe wasn't as wide as usual too. et The easiest way to tell the difference between Wald and Schwinn's balloon fenders with this paint style or scheme is the pin stripes running into the tip, curving is Schwinn no curve is after market. And, after marked fender brace flat area where connected to fender Schwinn about 1/4 inch or less while after market distance is greater than 1/4. usually 1/2" and greater.