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Reverse Mortgage

AAG Closing the Gap in Reverse Mortgage Securities Issuer Rankings

While Reverse Mortgage Solutions (RMS) continues to lead the pack in reverse mortgage-backed securities issuance, the gap between the No. 1 and No. 2 issuers “has never been smaller,” as American Advisors Group (AAG) climbs the rankings, according to data compiled and analyzed by New View Advisors. 

In the first quarter of 2015, RMS issued slightly more than $413 million of securities for a 20.6% market share, just $12.4 million more than AAG’s $400.7 million, which grabbed the reverse mortgage giant a 20% market share.

“RMS has been the consistent leader of HMBS issuance for more than four years, but the gap between the No. 1 and No. 2 issuers has never been smaller,” New View writes in its commentary. 

Urban Financial, Reverse Mortgage Funding and Liberty Home Equity Solutions round out the top-five issuers with $370.1 million, $260.6 million and $238.7 million, respectively.  

These five issuers accounted for almost 84% of all issuance in the first quarter, the most since late 2012 when the top-five accounted for 91% of all issuance.

Total issuance for the first quarter topped more than $2 billion, a 17% increase over the same period in 2014 when issuers totaled $1.7 billion in new pools. 

Read New View’s latest commentary here

Written by Emily Study