Record Tail Issuance Drives October’s Reverse Mortgage Securities

Issuers of Home Equity Conversion Mortgage mortgage-backed securities (HMBS) created $789 million in new HMBS pools during October, driven by a record tail issuance of $291 million and some rekindled activity from Wells Fargo, according to the latest commentary from New View Advisors. The record tail issuance includes two pools totaling nearly $100 million issued […]

Reverse Mortgage Securities Issuance Rises Pending Short-Term Decline

Despite uncertain production figures to date following the most recent change in reverse mortgages—the financial assessment—Home Equity Conversion Mortgage-Backed Security (HMBS) issuance remained strong in June. Issuers produced $845 million in HMBS product during the month; a total that rivals only May for the greatest monthly issuance since November 2013, according to data compiled by New […]

HREMIC Issuance Poised to ‘Smash’ Record $6 Billion Year

At $4.27 billion for the first six months of 2015, HREMIC issuance is already at 85% of 2014’s full-year issuance of $5.05 billion, and is expected to surpass 2012’s record $6 billion of issuance, according to the latest Ginnie Mae data compiled by New View Advisors.  Fifteen transactions underwritten by three sponsors — Nomura, Bank […]

Reverse Mortgage Securities Issuance Up 29% Year Over Year

Issuance of Home Equity Conversion Mortgage (HECM) mortgage-backed securities (HMBS) in February dropped slightly from its January high, but remained up 29% year over year,  according to the most recent commentary from New View Advisors on publicly available Ginnie Mae data. HMBS issuers sold $635 million in new pools throughout the month of February, the […]

Ginnie Mae Launches New Issuer Performance Measurement Tool

Ginnie Mae, the sole securitizer of home equity conversion mortgages (HECMs), has announced the launch of a risk management tool that will allow issuers to measure their performance against both program standards and peers. Single-family, multifamily and HECM-backed securities (HMBS) issuers will have access to the tool, called the Issuer Operational Performance Profile (IOPP), which […]

Reverse Mortgage Securities Issuance Off to Strong Start in 2015

Issuance of Home Equity Conversion Mortgage (HECM) mortgage-backed securities (HMBS) started 2015 on a strong note, marking the highest tally seen since December 2013, according to the most recent commentary from New View Advisors on publicly-available Ginnie Mae data. HMBS issues sold $712 million in new pools during January 2015, a 9.7% increase from December 2014’s […]

Top Issuers of Reverse Mortgage Securities in 2014 Ranked

As predicted, Home Equity Conversion Mortgage (HECM) mortgage-backed securities (HMBS) ended 2014 at a record low not seen since 2008, but the total number of pools issued during the year were a different story altogether, says new commentary from New View Advisors, which also ranks the top issuers of the year. HMBS issuers sold $6.6 […]

HREMIC Issuance Tops $5 Billion to Close 2014

HREMIC issuance reached the third highest annual volume in full-year 2014, but remained “far off” from its record year, according to the latest HREMIC rankings from New View Advisors based on publicly available Ginnie Mae data. Five different sponsors underwrote 25 transactions, totaling $5.05 billion in HREMIC issuance to close out 2014.  Bank of America […]

Friday Round-Up: The Time is Now for Reverse Mortgages

In case you missed it, here’s what happened in reverse mortgage news this week: Reverse Mortgage Program Changes Impact Americans’ Retirement Security—While reverse mortgages have been touted as tools to supplement retirement income, new data shows that more than half of today’s households lack enough income to maintain their pre-retirement standard of living.  Mortgage Professor: […]

Reverse Mortgage Daily Rewind: The Stories That Defined 2014

From principal limit factor changes and non-borrowing spouse guidance to lawsuits and the financial assessment, the reverse mortgage industry was no stranger to the news in 2014.  Reverse Mortgage Daily covered these topics — and more — which presented both challenges and opportunities for the industry as a whole.  Lenders, tech companies and analysts shared […]