HMBS payoffs fell again in October, as the refinancing wave continued its steady retreat. October payoffs totaled about $900 million, the lowest level in 20 months. Outstanding HMBS rose to a record $59.5 billion due to faster roll-up from rising interest rates and the drop in payoffs. The HECM refi wave was assisted by a…

HECM Mortgage-Backed Securities (“HMBS”) issuance fell in October to $824 million, falling for the sixth straight month as higher interest rates continued to take their toll. HMBS issuance remained below $1 billion for only the third time in 19 months. With ten months in the books and nearly $12.5 billion issued, HMBS is on pace…

HMBS payoffs fell again in September, as the refinancing wave resumed its retreat. September payoffs totaled about $948 million, the lowest amount in 19 months. Outstanding HMBS rose to a record $59.3 billion due to a faster roll-up from rising interest rates and the drop in payoffs. The HECM refinance wave was assisted by a…

AAG is still the #1 HMBS issuer in Q3, with $2.588 billion HMBS and 22.2% market share. FAR remains close behind in second, issuing $2.361 billion for a 20.3% market share. Longbridge stays in third with $2.128 billion issued and 18.3% market share, RMF is still fourth with $1.995 billion issued and 17.1% market share,…

HECM Mortgage-Backed Securities (“HMBS”) issuance fell in September to $966 million, falling for the fifth straight month as higher interest rates continued to take their toll. HMBS issuance remained below $1 billion for only the second time in 18 months. With nine months in the books and over $11.6 billion issued, HMBS is still on…

HMBS prepayments leveled off in August, as the refinancing wave paused its retreat. August payoffs totaled just over $1 billion, the second lowest amount in 18 months. Outstanding HMBS rose to a record $59.1 billion, helped by a faster roll-up from rising interest rates. The HECM refinance wave was assisted by a higher HECM lending…