HECM endorsements declined in March without the tailwind from loans built up during the government shutdown. The decline was fairly balanced, with Retail dropping -36.1% while Wholesale shed -35.1%.
All of the top 10 lenders dropped, so let’s dig further to see smaller originators that overcame the industry decline:
- The Federal Savings Bank jumped 366.7% to 14 loans and #23 on the month
- Ocean Lending grew 150% to 10 loans and a tie for 27th place in our rankings
- C2 also tied for 27th, doubling up on the month to 10 loans
Click the image below to access the full HECM Originators report including the most comprehensive originator rankings available on page 4.