RMF remains the #1 HMBS Issuer for 2016, issuing $2.001 billion of securities for a 21.8% market share, just $9.45 million more than AAG’s $1.991 billion and 21.7% market share. Finance of America Reverse, Ocwen Loan Servicing, and RMS round out the top five issuers. Finance of America Reverse issued $1.475 billion for a 16.1% market share, Ocwen was fourth with $1.087 billion and an 11.8% market share, and RMS was fifth with $868.0 million issued for a 9.5% market share. Live Well Financial slipped a notch to 6th for calendar 2016. The top five issuers accounted for 80.8% of all issuance, up slightly from last quarter’s 80.6%. There were no new HMBS issuers in the fourth quarter of 2016.
Despite the much-reported slowdown in HECM endorsements, HMBS issuance remains robust, aided by growth in tail issuance and highly seasoned pools. Issuance volume totaled $9.187 billion for 2016, just 3% less than 2015’s $9.453 billion. 2010 was the record year for HMBS with $10.7 billion of securities issued.
Editor’s note: This article was published with permission from New View Advisors, which compiled this data from publicly available Ginnie Mae data as well as private sources.