Secondary Markets

RMF remains atop the leaderboard after the first six months of 2018, issuing $2.26 billion of HMBS securities for a 39.6% market share, more than double #2 AAG’s … more 2018 First Half HMBS Issuer Rankings – Seasoned Collateral Rules

HMBS supply fell in May by a record $317 million, due to a combination of high prepayments and low issuance. We noted in previous blogs that reverse mortgage … more HMBS May 2018 Part II: Reprieve Over, Supply Shrinking at Record Rate

After a robust month in April, HMBS issuance retreated to its new normal in May. Without the help of any highly seasoned pools, HMBS fell to $579 million, … more May 2018 HMBS: April Showers Bring … Not Many May Flowers

HMBS supply rose in April, increasing by nearly $360 million from $56.2 to $56.5 billion. High prepayments were outweighed by high issuance, including two large highly seasoned pools … more HMBS April 2018 Part II: Temporary Reprieve from Supply Shrinkage; Are We at Peak Mandatory Buyout?

HMBS issuers welcomed the sunshine of their perennial favorites: tail issuance and highly seasoned collateral, which made for a bountiful spring bloom in April. Last month’s tail pool … more April 2018 HMBS: Perennials Bloom; New Growth Sparse

The HMBS market began 2018 much like it began 2017, with a month of just under $870 million in total new issuance and range bound in total outstanding … more New Year’s Resolution: Use HMBS Data Properly

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

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 … more HREMIC Issuance 2017 Full Year: Volume Tails Off