HMBS float shrank again despite a significant decline in payoffs. Just under $1 billion in payoffs reduced HMBS float to $55.3 billion, down from about $55.5 billion at the end of August. As we noted last week, HMBS issuance rose slightly in September 2018 to just over $587 million, a small increase over August, but…

RMF keeps its pole position after the first nine months of 2018, issuing $2.52 billion of HMBS securities for a 33.9% market share, a drop from its commanding 40% Q2 market share, but still well ahead of second place AAG. AAG issued $437 million of HMBS in Q3, 73% more than RMF’s $253 million, for…

HMBS issuance rose in September 2018 to just over $587 million, a small increase over August, but still one of the lowest issuance months in recent years. No highly seasoned pools were issued. In all, 104 pools were issued in September. When all the data are in, we expect another $1 billion plus in payoffs…

HMBS issuance rose slightly in August 2018 to just over $579 million, a small increase over July, which was the lowest issuance month in nearly four years. No highly seasoned pools were issued. In all, 110 pools were issued in August. Over $1.2 billion in payoffs shrank HMBS float by a record $500 million. Last…

HMBS issuance fell sharply in July 2018 to just over $542 million, the lowest issuance month in nearly four years. No highly seasoned pools were issued. In all, 98 pools were issued in July. Over $1 billion in payoffs shrank HMBS float by a record $355 million. Since February 2017, HMBS float has been range-bound…

HMBS supply rose in June by a scant $128 million, despite a large issuance of highly seasoned new pools. We noted in previous blogs that reverse mortgage lenders face a long winter of reduced volume, primarily due to the new lower Principal Limit Factors (“PLFs”) for Home Equity Conversion Mortgages (“HECMs”) effective this fiscal year.…

After a tepid May, HMBS issuance rose sharply in June 2018 to over $964 million with the help of more than $356 million in highly seasoned new issuance, exceeding that of new production. In all, 116 pools were issued in June. As we noted in previous blogs, reverse mortgage lenders face a long winter of…

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 $1.05 billion and 18.5% market share. RMF’s totals include highly seasoned pools, issued throughout the half. FAR stays in third with $767 million issued and 13.4% market…

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 lenders face a long winter of reduced volume, primarily due to the new lower Principal Limit Factors (“PLFs”) for Home Equity Conversion Mortgages (“HECMs”) effective this fiscal…