ReverseIQ Newsletters

Nine Years Back – HECM Originators August 2014

October 21, 2014

August was an ugly month for HECM endorsements, dropping -20.6% to the lowest level since June 2005. Wholesale/broker volumes dropped -26.3%, significantly more than the -16.2% decline in retail/direct business.

In spite of the tough sledding, there were still a few bright spots in the results.

  • Cherry Creek jumped 42.2% to 91 loans
  • Proficio grew 14.5% to 134 loans
  • One Reverse Mortgage managed a gain of 5.4% to 392 loans

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.

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Baby Bounce – HECM Lenders September 2014

October 1, 2014

HECM endorsements bounced back from a dismal showing in August, rising 15.5% to 3,762 loans. That’s still below last year’s pace of 4,527 loans, but the gap is at least narrowing compared to last month’s drop of over 2,000 loans from Aug 2013.

Through 9 months, 2014 is running -6% behind the pace from 2013 in spite of the September bounce. Several lenders recovered nicely as well:

  • Liberty more than doubled from August to show their highest volume since March at 372 loans
  • Generation bounced back 43.8% after a big August drop that now looks mercifully short
  • AAG continues to lead the pack and bounced 34.8% to get back over 1,000 loans per month

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.

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Shadowing 2012 – HECM Trends July 2014

September 23, 2014

The top graph on page 1 of HECM Trends shows the past three years of HECM endorsement volume – right now it’s eerie how closely this year is patterning to 2012. Given that August 2014 volume checked in well south of August 2012 that pattern is likely to take a little bit of a hit, but right now it seems fairly likely that the rest of the year could hover around the 4,000 loans per month mark to make the final tally very close.

  • We noted Arizona’s resurgence last month in this report, but there’s more to the 18.5% growth this year than just the biggest county, city and zip code
  • Maricopa county comprises 60.5% of year to date volume in AZ, but Phoenix contributes just 24.6% of Maricopa county volume
  • Several suburbs like Mesa, Scottsdale, Sun City and Sun City West are all checking in with big volume and with the exception of Scottsdale (which declined by 1 loan) all are showing big growth too

Sometimes the real nuggets of useful information are below the surface level – give us a call if you’re wondering what opportunities you might be missing in your local market.

Check out all the top states, cities and zip codes nationwide in the full report below by clicking the image below.

HECM Trends

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