Reverse Mortgage Solutions has long held the title of top reverse mortgage securities issuer in terms of dollar volume, however, American Advisors group is beginning to gain on its market stronghold.
According to HECM-backed mortgage securities (HMBS) data compiled and analyzed by financial services firm New View Advisors, for the first nine months of 2014 RMS has issued $1.06 billion in securities, or roughly 23% market share.
In its most recent market commentary, New View notes AAG’s rise toward the top of the issuer rankings, having issued $846 million in HMBS over the same time period for about 18% market share.
“RMS has been the consistent leader of HMBS issuance the last four years though AAG has steadily climbed the rankings to second since receiving Ginnie Mae issuer approval in 2013,” New View writes.
AAG issued the highest value of HMBS in September with more than $105 million worth of HMBS. Following RMS and AAG in the top five issuers to date for 2014 are Urban Financial of America, Liberty Home Equity Solutions and Nationstar.
Written by Elizabeth Ecker