Skip to main content

HMBS Issuance Enjoys 29 Percent YoY Jump

Mar 23, 2015

The reverse mortgage sector saw a strong year-over-year performance last month as home Equity Conversion Mortgage (HECM) mortgage-backed securities (HMBS) recorded a 29 percent year-over-year jump, according to Ginnie Mae data analyzed by New York-based financial services company New View Advisors.

Last month, $635 million in new pools of HMBS issues were sold, which is the third highest level since December 2013. While this is a bit below January’s level of $712 million, it is still the fifth consecutive month when issuance exceeded $600 million and is considerably higher from the $494 million level recorded in February 2014.

“Newly originated loans comprise a large majority of HMBS issuance in any given month, and a very large majority of current production HECM loans are securitized into HMBS,” said New View Advisors in its February data report. “As a result, HMBS issuance is a good barometer of recent HECM production. HMBS float is now $50.4 billion, comprised of 4,041 issues, up from $50.2 billion at the end of January.”

About the author
Mar 23, 2015
More from
Norcom's Former Reverse Mortgage Team Joins Supreme Lending

Having brokered-out reverse loans historically, the move adds a new channel to the Texas-based lender's offerings.

May 14, 2024
Rising Rates Reduce Reverse Mortgage Payouts

High rates also reduce how much one can borrow against their home equity, AARP reports.

Apr 12, 2024
CFPB Issues Warnings On Reverse Mortgage Marketing

Says it is working with state regulators to ensure fairness in advertising and teach consumers where to go for help.

Aug 15, 2023
Movement Mortgage Expands Into Reverse Mortgage

South Carolina mortgage company hires industry vet to run the operation

Aug 02, 2023
PHH Mortgage Signs Subservicing Deal With Finance of America Reverse

PHH, a subsidiary of Ocwen Financial, says deal offers opportunity to grow its reverse subservicing portfolio.

May 05, 2023
Judge Approves Liquidation Plan For RMIT

Decision OK'd after one-day delay for reverse mortgage lender to provide additional funding information.

May 01, 2023