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Read more: HMBS Issuer 2015 First Half League Tables – AAG Overtakes RMSAAG, which started its HMBS program just two years ago this month, is the leading HMBS issuer for the first half of 2015. After more than 5 years as industry leader, RMS ceded the number one slot by just $52 million. AAG issued $907.3 million of securities for a 20.1% market share. RMS issued $855.2…
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Read more: HREMIC Issuance 2015 First Half – Nomura Eclipses BAML for #1HREMIC issuance for the first six months of 2015 was $4.27 billion, 85% of 2014’s full year $5.05 billion. There were 15 transactions underwritten by three sponsors, Nomura, Bank of America Merrill Lynch, and Credit Suisse. Nomura captured the #1 slot for the first half, ending Bank of America Merrill Lynch’s nearly 6-year reign as…
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Read more: Blast from the Past lifts HMBS Issuance to 18-Month HighHMBS issuers created $874 million in new HMBS pools during May 2015, the largest HMBS issuance since November 2013, up from $798 million in April, and substantially higher than May 2014’s $582 million. 105 pools were issued, consisting of 62 original issuances and 43 tail pools. May’s higher totals were driven by Reverse Mortgage Funding,…
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Read more: HMBS Issuance Strong in April 2015 But Challenges LoomHMBS issuers created $798 million in new HMBS pools during April 2015, the largest HMBS issuance since December 2013, up from $660 million in March, and substantially higher than April 2014’s paltry $396 million. 113 pools were issued, consisting of 63 original issuances and 50 tail pools. Thus far in 2015, HMBS issuance is averaging…
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Read more: HMBS Issuer Rankings 2015Q1 – The Gap Is NarrowingRMS continues to lead all HMBS Issuers in the first quarter of 2015 with just over $413 million of securities for a 20.6% market share. Overall issuance volume rose 17% from 2014Q1, from $1.71 billion to just over $2 billion. RMS issued a nearly identical total in the first quarter of 2014 – $414.7 million…
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Read more: HMBS exceeds $2 billion in Q1 2015First quarter issuance in 2015 was just over $2 billion, 17% higher than the $1.7 billion issued in the first quarter of 2014, and marks the highest quarterly HMBS issuance since the 4th Quarter of 2013. HMBS issuers sold $660 million in new pools during March 2015, the third highest total since January 2014. Issuance…
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Read more: HMBS Maintains Healthy Clip in FebruaryHMBS issuers sold $635 million in new pools during February 2015, the third highest total since December 2013. Issuance was down from the $712 million in January but up 29% from February 2014, when a paltry $494 million was issued. This marks the fifth straight month that issuance has exceeded $600 million. With interest rates…
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Read more: HMBS Starts Off Strong in 2015HMBS issuers sold $712 million in new pools during January 2015, the highest total since December 2013. Issuance climbed nearly 10% from December 2014 and slightly exceeded the $711 million total of January 2014. This marks the fourth straight month that issuance has exceeded $600 million. With interest rates still low and financial assessment postponed,…
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Read more: Strange Tail of 2014 HMBS: Record Low Dollar Volume, Record High Number of PoolsHMBS issuers sold $6.6 billion in new pools during 2014, down 31% from 2013. 2014 was the lowest full year of issuance since 2008, when HMBS was a fledgling program that had yet to be adopted by most market participants. The total number of pools was a different story: an all-time record 1,026 pools were…
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Read more: HREMIC Issuance – 2014 Full YearHREMIC issuance ended 2014 at $5.05 billion, with 25 transactions underwritten by 5 different sponsors. Bank of America Merrill Lynch remains the market leader with a 39% market share, issuing $1.96 billion of HREMICs. Life to date, BAML has issued 47% of all HREMICs. RBS was second with 6 issuances totaling $1.46 billion, and Nomura…