Live Well Financial has sold the majority of its Home Equity Conversion Mortgage-backed securities (HMBS) issuance portfolio – $4 billion worth – to Reverse Mortgage Funding, LLC (RMF), according to GNMA data cited by New View Advisors in recent commentary. The acquisition places RMF as the owner of the largest HMBS issuance portfolio industry-wide, New […]
Category: HMBS
The production of new Home Equity Conversion Mortgage-backed securities (HMBS) declined in November to approximately $298 million in issuance for the month, down from $325 million in October and $360 million in September. Total issuance hit a four-year low, at $521 million in issuance and 84 pools, according to data compiled and released by New View […]
Production of new reverse mortgage loan pools declined in October to roughly $325 million in issuance, down from $360 million in September and $344 million in August, according to data compiled by New View Advisors. This decline in new issuance counters recent arguments that a reverse mortgage recovery is underway following program changes implemented in […]
It’s been an eventful fiscal year for the reverse mortgage industry. Stemming from the Home Equity Conversion Mortgage program changes last October, the last 12 months have brought lower origination volume, proprietary product innovation, originator diversification, and — most recently — changes to the HECM appraisal process. When last year’s HECM changes hit — with […]
Prepayment speeds for Home Equity Conversion Mortgage-backed securities (HMBS) are slowing down in the first half of 2018, potentially signaling growing stability on the secondary market. The St. Johns, Fla.-based Baseline Reverse tracks the conditional prepayment rate (CPR) for each HMBS issued on the marketplace, with a slower speed indicating a more attractive product for […]
In the midst of an earnings call that saw the company post a small profit, Ocwen Financial Corporation (NYSE: OCN) touted the performance of its reverse mortgage arm, Liberty Home Equity Solutions. “Our reverse mortgage lending business had a record quarter, recording a $9.8 million pre-tax profit, and the servicing business had its seventh consecutive […]
The reverse mortgage industry is currently seeing the effects of the October 2 changes on loan production, and the trend has trickled down into the securities market. Issuers of Home Equity Conversion Mortgage-backed securities (HMBS) saw production of new, original loan pools fall to just $401 million in April, according to the most recent calculation […]
Home Equity Conversion Mortgage-backed securities (HMBS) issuance remained strong in the first quarter of 2018, with Reverse Mortgage Funding taking the top position among issuers with nearly $1.1 billion in total value for the quarter. Yet the industry should prepare for a decline ahead, notes New View Advisors in its quarterly data analysis on HMBS. […]
Issuers of Home Equity Conversion Mortgage-backed securities (HMBS) saw lower production of new pools in January, but the market is still at a higher point than it was the same time last year. HMBS issuers generated $657 million in new production last month, according to the most recent numbers from Baseline Reverse. That’s a drop […]
