AAG Keeps Top Spot for Reverse Mortgage Securities Issuance

American Advisors Group is steadfast in its position as the top issuer of reverse mortgage backed securities, after taking the top spot from Reverse Mortgage Solutions in mid-2015. 

In the first quarter of 2016, AAG issued $462.7 million in Home Equity Conversion Mortgage-Backed Securities, comprising a 22.5% market share of $2.06 billion in total, according to data compiled by New View Advisors

Following AAG in terms of issuer rank were Reverse Mortgage Funding and Finance of America Reverse, having issued $373.1 million and $345 million, respectively, during the quarter. 

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AAG’s current market share has surpassed that of RMS in 2014, which peaked at 22.9%, New View points out. Rounding out the top 10 were Liberty Home Equity Solutions, Live Well Financial, RMS, Nationstar, Traditional Mortgage Acceptance, Sunwest and Plaza Home Mortgage. 

The top five issuers continue to comprise the vast majority of HMBS, at a total of nearly 80% of all issuance, up from last year’s total of 77.6% for the top five, New View Advisors notes. 

Year over year, issuance for the first quarter is nearly flat, with the quarterly total for 2016 totaling $2.059 billion versus $2.007 billion in the first quarter of 2015. 

View the New View Commentary and complete issuer rankings. 

Written by Elizabeth Ecker