Items Tagged with 'Secondary market'

ARTICLES

  • FHFA merges GSE issuance to common security in bid to cut housing costs for millions

    Fannie, Freddie officially move to Uniform MBS
    As of Monday, Freddie Mac and Fannie Mae mortgage-backed securities will be issued under a common security – the Uniform MBS – in a move some have called the biggest change to the MBS market in a generation. FHFA called the implementation of UMBS "momentous" and said it will cut costs for American homebuyers, but what is it, and what exactly will it mean for the U.S. mortgage market?
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  • 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.
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  • 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.
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  • Reverse mortgage securities market shrinks

    Will lower HMBS float scare off investors?
    Reverse mortgage volume has taken a nosedive in the past year, a fact that is glaringly evident by the product's performance in the secondary market. The latest from New View Advisors reveals that outstanding float of HECM-mortgage backed securities has fallen yet again. "At some point, declining float could affect HMBS liquidity and therefore pricing," said New View Partner Michael McCully.
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  • American Mortgage Consultants acquires Meridian Asset Services

    Furthers firm's mission to become a "one-stop-shop" for secondary mortgage market players
    American Mortgage Consultants, a due-diligence firm that caters to secondary market participants, has acquired Meridian Asset Services. AMC said Meridian's collateral, curative and title quality-control capabilities will enhance its third-party review and tech offerings that support private-label securitization transactions, due diligence and quality control.
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  • The disruption of the secondary market relies on efficiencies that can scale

    Resitrader by Optimal Blue connects lenders and investors in real time to accelerate results
    By connecting lenders and investors in real time, Resitrader automates what used to be a manual, email-based trading process and makes it incredibly scalable. Besides the immediate time savings, the Resitrader platform fosters real relationships between engaged buyers and sellers, which is mutually beneficial to both sides.
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  • Reverse mortgage securities fall to 4-year low

    "The market has yet to find its new normal"
    The latest data on HECM-backed securities reveals that issuance fell in November to $521 million, hitting the lowest level in four years thanks to low origination volume. According to a report from New View Advisors, only 84 pools were issued in November, the lowest number since February 2015.
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  • 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.
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