Items Tagged with 'HMBS'


  • Ginnie Mae announces Platinum product for reverse mortgage-backed securities

    New program may increase liquidity in HMBS market
    Ginnie Mae has launched a new securitization channel for reverse mortgage-backed securities. Now, investors in the HECM mortgage-backed securities market can participate in Ginnie’s new Platinum HMBS program, which reduces the administrative costs of holding multiple and smaller HMBS securities and promises to bring more liquidity to the market.
    Read More
  • These are the top issuers of reverse mortgage-backed securities

    New View Advisors names biggest players, details low Q1 volume
    As reverse mortgage loan production steadily declines, so too has the issuance of the securities backed by this product on the secondary market. Issuers of HECM-backed securities, or HMBS, brought just under $1.7 billion to market in the first quarter of 2019, according to the latest report from New View Advisors. This is a 44% decline from last year and the lowest total in five years.
    Read More
  • Reverse mortgage securities fall to near 5-year low

    Will this downward trend right itself anytime soon?
    In a troubling sign of the poor health of the reverse mortgage market, issuance of HECM-backed securities fell to their lowest level in nearly five years. According to the latest commentary from New View Advisors, reverse mortgage issuance totaled just under $491 million in February and total outstanding HECM-mortgage backed securities fell below $55 million.
    Read More
  • Reverse mortgage securities continue decline

    Issuance totals highlight liquidity concerns
    The latest data on HECM-backed securities shows issuance continued its decline in October, and while HMBS float last month was up slightly to $55.5 billion, most of that can be attributed to highly seasoned collateral and not to new production. This means that it’s only a matter of time before HMBS float falls below the $55 billion mark – a vector that indicates less liquidity for investors.
    Read More
  • Finance of America Reverse issues second round of defaulted reverse mortgage bonds

    Deal signals continued investor appetite for HMBS
    Finance of America Reverse is back with a second round of defaulted reverse mortgage bonds. The $399 million offering is a solid marker of investor appetite for HECM-backed securities. “Every time one of these trades, it’s a good thing,” said Baseline President Dan Ribler. “It’s yet another data point that there is liquidity for this type of deal.”
    Read More
  • HECM mortgage-backed securities see $1 billion decline

    HMBS float continues to shrink thanks to record payoffs and low origination volume
    The latest data on HECM mortgage-backed securities reveals issuance is down in the third quarter to $1.7 billion – that’s about a billion less than totals from the previous two quarters. In a recent report, New View Advisors says the industry shouldn't expect this to turn around any time soon as low origination volumes challenge the space.
    Read More
  • Baseline stakes its claim in HECM space

    Offers reverse companies data and insight to fine-tune their business
    Analytics provider Baseline is staking its claim in the reverse mortgage space. The firm offers clients a deep dive into HECM data with origination trends, performance stats and endorsement info – and companies are taking note. Baseline launched two years ago, but it took time for the company to gain traction. Now, President Dan Ribler said it has picked up significant market share.
    Read More
  • HECM mortgage-backed securities data reveals low flow and lots of payoffs

    Issuance totals highlight concerns about market health
    The latest data on HECM mortgage-backed securities sheds light on issues plaguing the struggling reverse mortgage industry. A report by New View Advisors reveals a massive, record-breaking wave of payoffs and assignments to HUD. Coupled with low origination volume, this could mean HMBS float will continue to decline, raising liquidity concerns for investors.
    Read More
  • Spotlight: A Historical Timeline of the HECM Program

    In the HECM business, it’s not uncommon to hear people talk about change. You have surely heard—and probably even read within this publication’s pages—that “change is the only constant” in the reverse mortgage industry. Well, we decided to take a look back at all that change and review the ups and downs that the industry has endured since the HECM product was first established as part of a pilot program in the 1980s.Since then, we’ve witnessed the rapid growth of Ginnie Mae HMBS and ridden a rollercoaster of origination volume. We’ve seen the program expand to include innovative products like
    Read More
  • HMBS: The Tightening Trend Continues

    Much like the strong performances seen in the mortgage and securitized product markets, HECM MBS spreads have continued to tighten, with fixed-rate HMBS tightening dramatically into higher prices as we move into mid-September. New Issue, fixed-rate HMBS have retraced a good amount of the early summer widening and are back to high 80s for corporate settle swaps. Par-priced floaters have grinded tighter to the high 40s/low 50s discount margin context with interest-only spreads trading very well.Investor appetite has remained strong and balanced across fixed and floating HMBS Product bum. Went buy cialis online on get producing different cheap viagra from
    Read More