2019Q2 HMBS Issuer League Tables – Very Little Change

AAG retains its lead HMBS issuer slot for the second quarter of 2019, with $847.4 million of issuance for a 23.3% market share. RMF stayed in second, with $651.7 million issued and 17.9% market share, and FAR held third with $553.8 million issued and 15.19% market share. Longbridge jumped two spots to #4 with $552.2 million and 15.15% market share, and PHH Mortgage Corp, fka Ocwen Loan Servicing, fka Liberty Home Equity Solutions, placed fifth with $425.1 million for a 11.7% market share. These five issuers accounted for more than 83% of all issuance, up 4% from 2019Q1’s 79%. There were 14 active HMBS issuers during the quarter. One-time issuer Synergy One Lending did not issue securities in the quarter.

2019Q2 saw $1.98 billion of HMBS issued, up from 2019Q1’s $1.67 billion, but for the half, industry volume is off 36% from a year ago. Total HMBS issuance in the first six months of 2018 was $5.71 billion. Even with highly seasoned pool issuance, expect lower HMBS issuance volume going forward.

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

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