2022 First Half HMBS Issuer League Tables – Crown Up For Grabs

AAG remained the #1 HMBS issuer in Q2, with $1.848 billion issued and 21.7% market share, though FAR was less than $12 million away, issuing $1.836 million for a 21.6% market share. Longbridge remained in third with $1.558 billion issued and 18.3% market share, RMF stayed in fourth with $1.507 billion issued and 17.7% market share, and PHH rounded out the Top Five again with $1.150 billion issued for a 13.5% market share.

The Top Five issuers accounted for 93% of all HMBS issuance, down a percent from previous quarters. The same 12 HMBS issuers were again active in the quarter. Mutual of Omaha Mortgage moved up four notches to #7, its largest HMBS issuance tally to date, also explaining the slight drop in aggregate issuance volume for the Top Five issuers.

2022Q2 saw $4.43 billion of HMBS issued, up 9% from last quarter’s record $4.08 billion, and the sixth consecutive quarterly issuance record. That run may be over. However, as mentioned in past blogs, even with the anticipated issuance slowdown in the second half, total 2022 volume could still surpass 2021’s $13.2 billion issuance record.

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

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