AAG kept its #1 HMBS Issuer title for all of 2015, with newly rebranded Finance of America Reverse in second place, overtaking RMS who slipped to third. Wells Fargo returned to issuance in 2015, marking its first market participation since 2012, and raising the total number of HMBS issuers to an all-time high of 14. AAG issued $1.84 billion of securities for a 19.5% market share, Finance of America issued $1.61 billion for a 17.0% market share, and RMS issued $1.47 billion for a 15.5% market share. RMF and Liberty rounded out the Top-5 issuers with $1.40 billion and $1.02 billion, 14.8% and 10.8%, respectively.
The Top-5 issuers accounted for approximately 78% of all issuance, down from last quarter’s 83%. The drop is due mostly to Wells Fargo’s significant tail issuance in 2015, all of which occurred in just two months, October and November, but accounted for 5.9% of total annual market share.
HMBS Issuers sold a total of $9.5 billion in 2015, 44% more than 2014’s $6.6 billion. The all-time record for annual HMBS issuance is 2010’s $10.7 billion.
New View Advisors compiled this data from publicly available Ginnie Mae data as well as private sources.
