HMBS February 2017: After January Delirium, February Equilibrium

The HMBS market returned to equilibrium in February, with both new issuance and outstanding float matching previous levels. Issuers created 97 pools in February totaling nearly $713 million. HMBS production was very similar to November and December 2016, but down significantly from January’s $868 million, which included large seasoned pools. The February pools divided into … more HMBS February 2017: After January Delirium, February Equilibrium

Financial Assessment Works

Financial Assessment is working. FHA’s new policy of requiring financial assessment (“FA”) of the borrower’s ability to pay has cut tax and insurance default by two-thirds and serious defaults almost in half, according to an analysis by New View Advisors. FHA’s objective for the new Financial Assessment regulations was to reduce the persistent defaults, especially … more Financial Assessment Works

Winter’s Tail: Strong HMBS Issuance Ushers in New Year

HMBS issuers began 2017 with a strong month, creating 121 pools in January totaling nearly $869 million. Production of original new loan pools was $525 million, up from December’s $515 million and much higher than January 2016’s total of $469 million. The pools divided into 57 original pools and a record 64 tail pools. The … more Winter’s Tail: Strong HMBS Issuance Ushers in New Year

Honey, We Shrank the Float: HMBS Supply Drops for First Time

The HMBS market shrank for the first time as record prepayments drove total outstanding HMBS to just under $55 billion. HMBS issuers created 97 pools in December 2016, totaling $715 million. Production of original new loan pools was $515 million, up from November’s $504 million and about the same as December 2015’s totals. The pools … more Honey, We Shrank the Float: HMBS Supply Drops for First Time

HMBS Issuer Rankings Full Year 2016 – RMF Maintains Razor Thin Margin for the Crown

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% … more HMBS Issuer Rankings Full Year 2016 – RMF Maintains Razor Thin Margin for the Crown

HREMIC Issuance Full Year 2016: Another Year, Another Record

HREMIC issuance for 2016 was $9.86 billion, surpassing 2015’s $9.51 billion, a previous record. There were 27 transactions underwritten by five sponsors, Nomura, Bank of America Merrill Lynch, Citicorp, Barclays, and RBC. Nomura remains the #1 issuer, with $5.4 billion, 54% of their life-to-date issuance of $10.1 billion. Bank of America Merrill Lynch was second … more HREMIC Issuance Full Year 2016: Another Year, Another Record

HMBS November 2016: Give Thanks for Tail Issuance

HMBS issuers created 108 pools in November, down from October due to the lack of seasoned pool issuance. Production of original new loan pools fell to $504 million, up from October’s $487 million and generally in line with previous months this year. Issuance totaled approximately $718 million in November, the 4th lowest monthly dollar volume … more HMBS November 2016: Give Thanks for Tail Issuance

GNMA Updates HMBS Monthly Reporting Cycle

As part of its ongoing efforts to improve access to timely and accurate loan level data from HECM Mortgage Backed Securities (HMBS), Ginnie Mae updated its timelines for submitting information through its  Reporting and Feedback System (RFS). Read more about these changes in All Participant Memorandum 16-06 published on November 17.

HMBS Issuer Rankings 2016Q3 – RMF Squeaks Past AAG to Capture the Crown

RMF has overtaken AAG as #1 HMBS issuer for the first nine months of 2016, issuing $1.519 billion of securities for a 22% market share, just $12 million more than AAG’s $1.507 billion and 21.8% market share. AAG had been the leading HMBS issuer since 2015Q2. RMF first issued HMBS in 2014Q1. Finance of America … more HMBS Issuer Rankings 2016Q3 – RMF Squeaks Past AAG to Capture the Crown