Total HMBS payoffs in June decreased from May; 1-mo prepayment speeds were 17.8% per annum compared to May’s 18.9% per annum. Outstanding HMBS decreased $128 million to $57.2 billion, the 25th decrease in the last 29 months. The decline in HMBS understates the true story in outstanding HMBS and HECMs, because negative amortization of underlying…

FAR kept its lead HMBS issuer status in 2025Q2 with $933 million issued and 30% market share. Longbridge stayed in second, with $726 million issued and 23% market share. PHH and Mutual of Omaha round out the Top Four, with PHH issuing $578 million for an 18.4% market share, and MOO issuing $574 million for…

HECM Mortgage-Backed Securities (“HMBS”) issuance in June totaled $510 million, $34 million lower than May’s $544 million. 71 pools were issued in June, two fewer than May. FAR was the top issuer in June with $166 million – an increase of $5 million from May’s $161 million. Issuance from Longbridge was $121 million, down $3…

Total HMBS payoffs in May increased from April; 1-mo prepayment speeds were 18.9% per annum compared to April’s 18.5% per annum. Outstanding HMBS decreased by $153 million to $57.3 billion – the 24th decrease in the last 28 months. Because of the program’s negative amortization, declining outstanding HMBS balances mask the true decline in outstanding…

HECM Mortgage-Backed Securities (“HMBS”) issuance in May totaled $544 million, $9 million higher than April’s $535 million. 73 pools were issued in May, eight fewer than in April. FAR was the top issuer in May with $161 million – a decrease of $10 million from April’s $171 million. Issuance from Longbridge was $124 million, the…