HMBS December 2017: It Is Better to Give New Issuance than to Receive Payoffs

The HMBS market closed out 2017 with a strong month of new issuance but remains range bound in total size. Total HMBS float has been stuck between $54 billion and $56 billion for nearly two years, though this may change in 2018 as the new Principal Limit Factors (“PLFs”) start to reduce origination volume. In … more HMBS December 2017: It Is Better to Give New Issuance than to Receive Payoffs

HREMIC Issuance 2017 Full Year: Volume Tails Off

HREMIC issuance for 2017 was $9.24 billion, 6% behind 2016’s total of $9.86 billion, but still the third highest issuance year after 2016 and 2015. Fourth quarter volume was $1.93 billion, up 3% from 2017’s third quarter issuance of $1.87 billion. There were 25 transactions underwritten by three sponsors, Nomura, Citigroup, and Bank of America … more HREMIC Issuance 2017 Full Year: Volume Tails Off

2017 HMBS Issuer Rankings – A Busy Fourth Quarter

AAG keeps the crown as the leading HMBS Issuer for 2017, issuing $2.3 billion of securities for a 21.9% market share, $211 million over #2 Reverse Mortgage Funding’s $2.1 billion and 19.9% market share. RMF issued a whopping $918 million in the fourth quarter, which included the issuance of highly seasoned pools, leapfrogging over Finance … more 2017 HMBS Issuer Rankings – A Busy Fourth Quarter

HMBS September 2017: Slow Climb Up the Down Escalator

The HMBS market remained stuck – again – at $55 billion in September. HMBS Prepayments topped $1 billion, but was balanced by 114 new pools from 14 different issuers totaling over $879 million. September issuance divided into 49 original pools and 65 tail pools. No seasoned original new loan pools were issued. Production of original … more HMBS September 2017: Slow Climb Up the Down Escalator

HREMIC Issuance 2017Q3: 100.3% Market Share

HREMIC issuance for the first nine months of 2017 was $7.31 billion, about 5% behind 2016’s first nine months’ issuance total of $7.68 billion. Third quarter volume was $1.87 billion, off 26% from 2017’s second quarter issuance of $2.53 billion. There were 19 transactions underwritten by three sponsors, Nomura, Citigroup, and Bank of America Merrill … more HREMIC Issuance 2017Q3: 100.3% Market Share

HMBS Issuer Rankings 2017Q3 – Active Issuer Count Hits New High Water Mark

AAG remains the leading HMBS Issuer for the first nine months of 2017, issuing $1.718 billion of securities for a 23.6% market share, $407 million over #2 Finance America Reverse’s $1.311 billion and 18.0% market share. AAG’s market share dropped marginally over 2017Q2, and FAR narrowed the gap by 1.3%. Reverse Mortgage Funding stayed in … more HMBS Issuer Rankings 2017Q3 – Active Issuer Count Hits New High Water Mark