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Read more: HMBS Pool Level Prepayment Speeds – July 2014As of July 31, 2014, $48.46 billion of HMBS are outstanding, representing a growth in supply of $224 million over June. Life to date issuance of HMBS now totals $52.3 billion. The July 2014 pool level HMBS prepayment report can be found here. HMBS are Ginnie Mae guaranteed pass-through securities backed by pools of participations…
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Read more: HMBS Market Chases Its TailsHMBS issuers created $507 million in new HMBS pools during July 2014, the fifth smallest monthly HMBS issuance since May 2009, but up from last month’s $439 million. 85 pools were issued, consisting of 42 original issuances and 43 tail pools. By comparison, HMBS issuance totaled $795 million in July 2013, and averaged nearly $800…
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Read more: Pool Level HMBS Prepayment Speeds – June 2014As of June 30, 2014, $48.24 billion of HMBS are outstanding, representing a growth in supply of just $157 million over May. Life to date issuance of HMBS now totals $51.8 billion. The June 2014 report can be found here. HMBS are Ginnie Mae guaranteed pass-through securities backed by pools of participations of HECMs, which…
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Read more: HMBS Issuer 2014 First Half League Tables – RMS Keeps the CrownRMS led all HMBS Issuers in the first half of 2014 with $774 million of securities for a 24.7% market share. RMS has been the consistent leader of HMBS issuance the last three and a half years. Urban, AAG, Liberty, and Nationstar rounded out the top 5 with $567.7 million, $551.5 million, $381.6 million, and…
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Read more: HREMIC 2014 First Half IssuanceHREMIC issuance for the first half of 2014 was $2.37 billion, with 12 transactions underwritten by 4 different sponsors. Bank of America Merrill Lynch continues its reign as market leader with a 43% market share, issuing a little over $1 billion of HREMICs. RBS was second with 3 issuances totaling $741.7 million, and Stifel was…
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Read more: SASCO 1999-RM1: One for the Record BooksThe reverse mortgage capital markets experienced another important milestone Tuesday as Structured Asset Securities Corporation Reverse Mortgage Loan Trust Series 1999-RM1 (“SASCO 1999-RM1”) became the second securitization trust of such loans to pay off completely. The remaining B class bondholders received their final payments on June 25th, 2014; all bondholders have now received their principal…
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Read more: HREMIC Prepayment Data – June 2014The June 2014 reporting period data for HREMIC prepayment speeds can be found here. The securities are listed in chronological order, by class, and prepayment speeds use the Dollar Amount Method, defined previously. Customized reports are available by subscription. Life-to-date there have been 121 HREMICs issued by 13 different underwriters for $22.1 billion. Nearly 46%…
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Read more: Pool Level HMBS Prepayment Speeds – May 2014As of May 31, 2014, $48.08 billion of HMBS are outstanding, representing a growth in supply of $250 million over April. Life to date issuance of HMBS now totals $51.3 billion. The May report can be found here. HMBS are Ginnie Mae guaranteed pass-through securities backed by pools of participations of HECMs, which are FHA-insured…
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Read more: New Tails and Old Loans Help HMBS Bounce off the BottomHMBS issuers created $582 million in new HMBS pools during May 2014, the sixth smallest monthly HMBS issuance since May 2009, but up from last month’s paltry $396 million. 91 pools were issued, consisting of 49 original issuances and 42 tail pools. By comparison, HMBS issuance totaled $845 million in May 2013, and averaged nearly…
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Read more: New View Advisors Introduces HREMIC Prepayment DataStarting with the May 2014 reporting period, New View Advisors is introducing monthly distribution of prepayment data for HREMIC securities. The securities are listed in chronological order, by class, and prepayment speeds use the Dollar Amount Method. The Dollar Amount Method measures prepayment rates by the dollar amount repaid rather than the number of loans…