2020Q2 HMBS Issuer League Tables – AAG Maintains Its Lead

AAG maintained its lead in 2020Q2 HMBS issuer rankings, with $1.23 billion of issuance and 27.7% market share. RMF squeaked past FAR into second, with $842.7 million issued and 19% market share. FAR at third had $829.5 million issued and 18.7% market share. PHH Mortgage stayed in fourth, with $590.6 million and 13.3% market share, and Longbridge held fifth with $525.2 million of issuance and 11.8% share. These five issuers continue to account for almost 91% of all HMBS issuance. There remain 13 active HMBS issuers in 2020.

2020Q2 saw $2.35 billion of HMBS issued, up from the first quarter’s $2.09 billion. With HMBS capital markets recovered from the Coronavirus pandemic, and HECM origination volume up, 2020 HMBS issuance is headed for $9+ billion. Total HMBS issuance in 2019 was $8.26 billion.

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

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