HMBS Issuer Rankings 2015Q1 – The Gap Is Narrowing

RMS 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 – though for a slightly larger market share of 24%.  RMS has been the consistent leader of HMBS issuance for more than 4 years, but the gap between the number one and number two issuers has never been smaller.  AAG issued $400.7 million in the quarter with a 20% market share – a difference of less than $12.4 million.  Urban Financial, RMF, and Liberty rounded out the Top-5 issuers with $370.1 million, $260.6 million, and $238.7 million respectively.  The Top-5 issuers accounted for almost 84% of all issuance in the quarter, the most since late 2012 when the Top-5 accounted for 91% of all issuance.  It is also the first time RMF has been in the Top-5 category.

New View Advisors compiled this data from publicly available Ginnie Mae data as well as private sources.

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