2022 Q1 HMBS Issuer League Tables – Back to (the New?) Normal

AAG returned to the #1 HMBS issuer slot in 2022Q1, with $899.0 million issued and 22% market share, squeaking past FAR at #2 with $888.5 million and a 21.8% market share. Longbridge remained in third with $744.9 million issued and 18.2% market share, RMF was fourth with $735.8 million issued and 18.0% market share, and PHH rounded out the Top Five, with $583.9 million issued for a 14.3% market share.

Consistently, these same five issuers again accounted for 94% of all HMBS issuance. There were 12 active HMBS issuers in the quarter, with Nationstar out of the business and Cherry Creek Mortgage not issuing, at least for now.

2022Q1 saw $4.08 billion of HMBS issued, up 4% from last quarter’s record $3.91 billion, and the fifth consecutive quarterly issuance record. As mentioned in many of our blogs, $13.2 billion of HMBS issuance in 2021 beat 2010’s previous record $10.8 billion; at this run rate, 2022 will easily surpass 2021.

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

 

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