March 2, 2015
HECM endorsements for February declined -4% to 4,747 loans from last month and dropped a bit more, -8.1% from a year ago.
- 7 out of 10 regions were down on the month, including the two largest, Pacific/Hawaii and Southeast/Caribbean
- The smallest region, Great Plains, gained 19.8% to lead all regions in growth and put in its highest volume since October
- Among the top 10 lenders, Maverick Funding jumped 71.6% to match their highest total since June 2013
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.
February 23, 2015
HECM endorsements finished down -13.1% for the calendar year 2014 at 52,949 loans. That decline was expected with the initial utilization restrictions implemented late last year by FHA, but the good news is that 2014 finished on an upswing. Both October and December exceeded both 2013 and 2012 figures.
One trend we’ve been seeing lately is the HECM to HECM refinance figures heading up, with 8% of all loans falling into this category for December, up 39% from Dec 2013 (which was itself more than quadrupled from Dec 2012). This is mostly a case of home price recoveries impacting the market, but the August 2014 PLF changes did increase available cash to recent borrowers and does seem to be elevating refinances in the Q4 volumes.
We’re excited to announce a new interactive tool that allows you to pinpoint HECM activity all the way down to zip codes by lender. Contact us today for a demo!
Check out all the top states, cities and zip codes nationwide in the full report below by clicking the image below.
February 17, 2015
Retail led the increase in HECM endorsements for December, up 14.7% to 2,867 units compared to 12.1% rise for the industry overall. Wholesale grew somewhat slower, up 8.7% in the month.
- One Reverse led the growth among lenders, rising 45.9% to 540 loans
- Reverse Mortgage Funding also had a strong month, bouncing up 34% overall (page 2) after a dip in November, and 72.3% on a retail basis (page 4)
- FirstBank made a strong push to close out the year, rising 50% to 9th place for the month and 13th on the year (page 4)
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.