September 17, 2014
HECM endorsments were down -1.7% in July, but broker/wholesale business rose 1.4% whereas retail/direct volume dropped -3.9%. A few notables:
- Urban, Generation, Cherry Creek and Sun West all increased volume in July, bucking the industry decline
- Several leading lenders grew retail volume in the month, including AAG, Urban, Net Equity, High Tech Lending, and M&T Bank
Don’t forget to check out the rankings on page 3 (trailing twelve months with channel splits) and page 4 (single month retail only). If your company is not an FHA approved lender, these are the only industry rankings where you’ll appear!
Click the image below to access the full report.
September 2, 2014
HECM endorsements for August underlined the dog days of summer, declining -20.4% to 3,256 loans. Applications and funding have turned the corner back up toward growth already so this is probably the low point for endorsements following last September’s principal limit factor reductions, but it’s not out of the question to bump along the bottom for another month.
- All 10 regions were down from July, with the biggest decline coming from the smallest region (Great Plains) at -44.5% and Mid-Atlantic weathering the storm best with just a -3.3% drop
- Proficio eaked out an increase despite the overall slump, rising 15.4% to 135 loans
- One Reverse continued its consistent monthly performances with a 5.4% increase to 392 loans
If your company is FHA approved check out the rankings on page 5 of the report below. If your company is not FHA approved, watch out for our next edition of HECM Originators to find your ranking!
Click the image below for the full report.
August 26, 2014
Our last update for June endorsements before August totals come out next week, we’re looking again at HECM Trends.
- Arizona leads the top 10 states with 32.2% loan growth from Jan-Jun 2013
- Phoenix doesn’t register among the top 10 cities, but Maricopa county (#2) has the highest growth rate in the top 10 at 46.8%
- Last but not least, zip code 85375 in Sun City and just outside Phoenix more than doubled volume to 42 loans – an average of 7 per month just in this one zip code!
- Tucson shares a little love by ranking #3 among cities for total maximum claim amount growth, but Phoenix still showed up its smaller neighbor with the #1 ranking
Check out trends in your state/county/city/zip in the full report below by clicking the image below.