HECM Originators – July 2018

HECM endorsements rose 2.6% in July overall to end at 2,907 loans.

  • The pickup was entirely in broker/wholesale business, which rose 12.2% after 5 consecutive monthly declines
  • Last time broker/wholesale volumes were up was January – volumes in July are down -62.5% from that point
  • Retail dropped -3% to 1,737 loans, down -45.5% from January

An interesting picture emerges among the top 10 lenders in making these same January comparisons:

  • All lenders experienced declines, ranging from -24% to -73.2%
  • One Reverse Mortgage declined the least, dropping from 296 loans in January to 225 loans in July (-24%)
  • Live Well also fared significantly better than average, dropping -27.6% to 155 loans
  • AAG was third in this measure, losing -37.5% to end at 825 loans

There’s a clear call center theme to that list on first glance. We’re not saying that’s a panacea for the current market conditions, but it’s an obvious similarity among these lenders that are weathering the volume decline better than their peers thus far.

Click the image below to access the full HECM Originators report.

HECM Originators