Outstanding HMBS rose by about $285 million in January 2021, as issuers rushed to issue new LIBOR pools. After February 2021, GNMA will no longer allow issuance of HMBS pools backed by first participations of LIBOR-indexed HECMs. Payoffs fell significantly to about $790 million. Total outstanding HMBS is now over $56 billion, the highest total…

HMBS issuance totaled $949 million in January 2021, as issuers began to wrap up securitization of new LIBOR-indexed HECM loans. January 2021 is the next-to-last month in which Ginnie Mae will allow pooling of new HMBS pools backed by first participations of LIBOR-based HECMs. 81 pools were issued in January; 12 pools totaling about $191…

Outstanding HMBS rose by $412 million in December 2020, as issuers rushed to issue new LIBOR pools. After February 2021, GNMA will no longer allow issuance of HMBS pools backed by first participations of LIBOR-indexed loans. Payoffs fell slightly to approximately $900 million. Total outstanding HMBS rose again, to just under $56 billion, the highest…

AAG maintained its #1 HMBS issuer ranking to lead all issuers in 2020 with $2.823 billion of issuance and 26.5% market share. This is the second consecutive year AAG has taken the crown. FAR jumped two notches into second place for the year with $1.869 billion issued and 17.55% market share. Longbridge dropped to third,…

HMBS issuance totaled $1.2 billion in December 2020, as issuers continued their mad rush to originate and securitize LIBOR-indexed HECM loans before the demise of that index. It turns out December 2020 will not be the last month in which Ginnie Mae allows pooling of new HMBS pools backed by first participations of LIBOR-based HECMs…

Outstanding HMBS rose by about $125 million in November, as both payoffs and new issuance continued strong. Payoffs remained at about $950 million, despite the lower level of mandatory buyouts. Total outstanding HMBS rose again, to over $55.5 billion, the highest total in over two years. In 2019, HMBS posted its lowest annual issuance total…