"Longbridge Financial followed in second place with $1.44 billion, or 23% of the market. Mutual of Omaha Mortgage and PHH Mortgage Corp. rounded out the top four, issuing $1.16 billion (19%) and $1.09 billion (18%), respectively. In its latest commentary, released on Monday, New View Advisors said that there were 10 HMBS issuers in 2025, and the top four issuers accounted for nearly 90% of volume."
"A decade earlier, the HMBS market was vastly different. In 2015, the industry issued $9.45 billion in HMBS, about 50% more than 2025's total. But New View pointed out that only a handful of the top issuers from that year remain active in today's rankings. Finance of America and Liberty Reverse Mortgage (now part of PHH Mortgage) are among the few survivors, joined by Plaza Home Mortgage and SunWest Mortgage."
There were 10 HMBS issuers in 2025, with the top four accounting for nearly 90% of total volume. Longbridge Financial was second with $1.44 billion (23%), while Mutual of Omaha Mortgage issued $1.16 billion (19%) and PHH Mortgage Corp. issued $1.09 billion (18%). Industry issuance in 2015 totaled $9.45 billion, about 50% more than 2025's total, implying roughly $6.3 billion in 2025. Finance of America now holds 30.2% market share, up from 17% in 2015. Several prominent 2015 issuers have disappeared or been absorbed, and FOA announced acquisition of Liberty/PHH's reverse mortgage pipeline.
Read at www.housingwire.com
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