HECM Mortgage-Backed Securities (“HMBS”) issuance in February totaled $470 million, $118 million lower than January’s $588 million. 77 pools were issued in February, eight fewer than January. FAR was the top issuer again in February with $125 million – a decrease of $35 million from January’s $160 million. Issuance from Longbridge decreased to $107 million…

Total HMBS payoffs in January decreased from December; 1-mo prepayment speeds were 16.5% per annum compared to December’s 18.3% per annum. Outstanding HMBS increased by $36 million to $57.9 billion – only the fourth increase in the last 24 months. Finance of America is the issuer of record for $17.7 billion or 30.6% of all…

Total HMBS payoffs in December increased from November; 1-mo prepayment speeds were 18.3% per annum compared to November’s 14.8% per annum. Outstanding HMBS decreased by $86 million to $57.87 billion – the 20th  decrease in the last 23 months. HMBS payoffs exceeded new issuance by nearly $5 billion in 2024, however due to loan roll-up and…

FAR remained lead HMBS issuer throughout 2024, ending the year with $1.875 billion issued and 31.0% market share. Longbridge stayed in second, with $1.354 billion issued and 22.4% market share. Mutual of Omaha and PHH swapped places again for third, with MoO issuing $1.112 billion for an 18.4% market share, and PHH issuing $1.079 billion…

HECM Mortgage-Backed Securities (“HMBS”) issuance in December totaled $575 million, $8 million lower than November’s $583 million. 75 pools were issued in December, four more than November. For the full year, HMBS issuance volume totaled $6.01 billion – $439 million lower than 2023 and $7.9 billion lower than 2022’s record $14 billion issuance tally. 2024…