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Reverse Mortgage Securities Payoffs Reach New Heights

HMBS issuers are raking in record prepayments that are off-setting effects of a strong month.

"HMBS issuers generated $989 million in securities last month, with 53 original pools and 61 'tails,' according to the most recent analysis from New View Advisors," according Reverse Mortgage Daily.

"Those original pools totaled $755 million, which the New York City-based firm attributed to the pre-October 2 push to lock in higher principal limit factors."

It speaks volumes for reverse mortgage backed securities, which were predicted to struggle once the principal limit factors were introduced on October 2.

“There hasn’t been an exodus,” said New View principal Michael McCully.

“The investor community really likes this product.”

The future may not look so dim for HMBS. To learn more about the increased prepayments in HMBS, click on the image above.

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