The HMBS new issue market fell slightly in June, according to New View Advisor’s latest blog post analysing the data. HECM Mortgage-Backed Securities issuance totalled $497m, $29m lower than May’s $526m.
This year (2024), total issuance through June totals $2.8bn; $328m lower than at this time last year and $5.6bn lower than at this time in 2022.
The 86 pools issued in June consisted of 24 first-participation or original pools and 62 tail pools. HMBS issuance remains near historical lows, comparing monthly issuance dating back to 2010.