{"id":1457,"date":"2019-10-02T19:02:09","date_gmt":"2019-10-02T23:02:09","guid":{"rendered":"https:\/\/www.newviewadvisors.com\/commentary\/?p=1457"},"modified":"2019-10-02T19:02:09","modified_gmt":"2019-10-02T23:02:09","slug":"2019q3-hmbs-issuer-league-tables-two-can-play-that-game","status":"publish","type":"post","link":"https:\/\/newviewadvisors.com\/commentaries\/2019\/10\/02\/2019q3-hmbs-issuer-league-tables-two-can-play-that-game\/","title":{"rendered":"2019Q3 HMBS Issuer League Tables \u2013 Two Can Play That Game"},"content":{"rendered":"<p>AAG remains the frontrunner HMBS issuer for the third quarter of 2019, with $1.38 billion of issuance and 23% market share. Note AAG\u2019s totals are all new originations, with no highly seasoned pools issued. Longbridge took sole possession of second place with $1.29 billion of issuance and a 21.5% share. Longbridge&#8217;s rise in the rankings is attributable in large part to a spate of highly seasoned pool issuance during the quarter. RMF previously made similar leaps in the league tables with their seasoned pool issuances. As a result of Longbridge\u2019s surge, RMF was pushed to third with $1.11 billion issued and 18.6% market share, FAR moved down a notch to fourth with $855.2 million issued and 14.3% market share, and PHH Mortgage Corp placed fifth with $665.8 million and 11.1% market share. These five issuers accounted for 88.5% of all issuance, up from 2019Q2\u2019s 83%, and back near the Top-5 concentration high of 91% at year-end 2018. There were 13 active HMBS issuers during the quarter. Live Well Financial is gone, and one-time issuer Synergy One Lending did not issue securities in the quarter.<\/p>\n<p>2019Q3 saw $2.33 billion of HMBS issued, up from both Q2\u2019s $1.98 billion and Q1\u2019s $1.67 billion. For the first nine months, industry volume is off 19% from a year ago. Total HMBS issuance in the first nine months of 2018 was $7.43 billion. Even with highly seasoned pool issuance, expect lower HMBS issuance volume going forward.<\/p>\n<p>New View Advisors compiled these rankings from publicly available Ginnie Mae data as well as private sources.<\/p>\n<p><a href=\"https:\/\/www.newviewadvisors.com\/commentary\/wp-content\/uploads\/2019\/10\/HMBS-2019Q3.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1461\" src=\"https:\/\/www.newviewadvisors.com\/commentary\/wp-content\/uploads\/2019\/10\/HMBS-2019Q3.png\" alt=\"\" width=\"477\" height=\"305\" srcset=\"https:\/\/newviewadvisors.com\/commentaries\/wp-content\/uploads\/2019\/10\/HMBS-2019Q3.png 477w, https:\/\/newviewadvisors.com\/commentaries\/wp-content\/uploads\/2019\/10\/HMBS-2019Q3-300x192.png 300w\" sizes=\"auto, (max-width: 477px) 100vw, 477px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>AAG remains the frontrunner HMBS issuer for the third quarter of 2019, with $1.38 billion of issuance and 23% market share. Note AAG\u2019s totals are all new originations, with no highly seasoned pools issued. Longbridge took sole possession of second place with $1.29 billion of issuance and a 21.5% share. Longbridge&#8217;s rise in the rankings [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1457","post","type-post","status-publish","format-standard","hentry","category-hmbs"],"_links":{"self":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/comments?post=1457"}],"version-history":[{"count":3,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1457\/revisions"}],"predecessor-version":[{"id":1463,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/posts\/1457\/revisions\/1463"}],"wp:attachment":[{"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/media?parent=1457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/categories?post=1457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newviewadvisors.com\/commentaries\/wp-json\/wp\/v2\/tags?post=1457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}