2023 First Half HMBS Issuer League Tables

FAR kept its grip as lead HMBS issuer with $1.23 billion issued and 38.8% market share. Longbridge was again second, with $693.3 million issued and 21.8% market share, PHH stayed at third with $502.3 million issued and 15.8% market share, and Mutual of Omaha was fourth with $397.2 million issued and 12.5% market share. The Top Four issuers accounted for 89% of all HMBS issuance in the half.

2023Q2 saw $1.703 billion issued, up from Q1’s $1.472 billion, but a run rate of still only about $6 billion for calendar year 2023, less than half of 2022’s nearly $14 billion record issuance tally. Both Money House and Money Source returned to issuance in Q2, bringing the number of HMBS issuers back to 11 for the half, but they accounted for just 0.2% of all issuance.

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

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