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Read more: March Goes Out Like a Lamb for HMBS IssuersHMBS issuers created approximately $639 million in new HMBS pools during March 2016, with a weak tally in original loan pools somewhat mitigated by strong tail issuance totaling about $219 million. Last month’s HMBS issuance total fell short of both February’s $768 million and March 2015’s $660 million. 93 pools were issued, consisting of only…
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Read more: HMBS Issuer Rankings 2016Q1 – AAG Increases Market ShareAAG remained the #1 HMBS Issuer for the first quarter of 2016, with Reverse Mortgage Funding and Finance of America Reverse in second and third places, respectively. Liberty Home Equity, now issuing HMBS as Ocwen Loan Servicing, and Live Well Financial rounded out the top five issuers. RMS came in sixth. AAG issued $462.7 million…
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Read more: Seasoned Loans Drive HMBS Issuance in February 2016HMBS issuers created approximately $769 million in new HMBS pools during February, driven by nearly $175 million in new pools with very seasoned HECM loan collateral, as well as strong tail issuance totaling about $176 million. Last month’s HMBS issuance total exceeds both January 2016’s $651 million and February 2015’s $635 million. 97 pools were…
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Read more: New View Advisors Reverse Mortgage Draw Index: January 2016New View Advisors is pleased to release the January 2016 Reverse Mortgage Draw Index. The latest Ginnie Mae data for Monthly Adjustable HECMs show a steady draw rate of 1.91%, and that Annual Adjustable draw rates were 1.86%, both consistent with previous months. Our index values for Monthly Adjustable Rate HECM loans during the last…
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Read more: HMBS Issuance January 2016: New Year, Slow StartHMBS issuers began 2016 by issuing only $651 million in new HMBS during January, down from December’s $685 million and January 2015’s $712 million. January’s issuance volume reflects the “new normal” of the HECM program post-financial assessment: $468 million in original loan pools (the lowest since September 2014) and tail issuance of $182 million. A…
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Read more: Dog Days of December: Return to the New Normalcy; Fixed Rate Adjusts DownThe HMBS market returned to the new normal of the post-Financial Assessment era last month. Issuers created approximately $685 million in new HMBS pools during December 2015, down sharply from November’s $1.2 billion. Without any large seasoned pools, HMBS reverted to what is now a more usual month of issuance: $515 million in original loan…
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Read more: HMBS Issuer 2015 Full Year League Tables – AAG Still On TopAAG 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.…
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Read more: HREMIC Issuance 2015 Full Year – Nomura Keeps the Crown in Record YearHREMIC issuance for all of 2015 was just over $9.5 billion, easily surpassing 2014’s $5 billion of issuance and the previous full year record of $6 billion set in 2012. There were 33 transactions underwritten by four sponsors, Nomura, Bank of America Merrill Lynch, Barclays, and Credit Suisse. Nomura remains the #1 issuer for the…
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Read more: New View Advisors Reverse Mortgage Draw Index: November 2015New View Advisors is pleased to release the third installment of its Reverse Mortgage Draw Index, including the second release of our Annual Adjustable Draw Index. The latest Ginnie Mae data for Monthly Adjustable HECMs show a steady draw rate of 2.01% in November, consistent with previous months. The data also show that Annual Adjustable…
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Read more: Dog? What Dog? HMBS Big November all About the TailIn November 2015, the Tail not only wagged the Dog, the Tail was the Dog. Issuers created approximately $1.232 billion in new HMBS pools during November 2015, the largest month of HMBS issuance since February 2010. Driven by HMBS backed by seasoned HECM loans, November saw a record-smashing tail issuance of $660 million. Wells Fargo,…