ReverseIQ Newsletters

Flip Flop – HECM Originators March 2015

May 18, 2015

In February, the wholesale channel increased HECM endorsements in a down month for the industry overall, and now in March’s HECM Originators reports we’ve seen the exact opposite with retail outpacing brokers dramatically. Adding the two months together it’s clear that retail got the best of the action – dropping just 102 loans from a much higher volume base while wholesale dropped 200 loans for an almost 10% decline for Feb/Mar.

Several lenders beat the trend and increased their volume:

  • Liberty jumped 38% to 620 loans and their highest levels in over a year – good enough for second place in the rankings for the month on a combined retail/wholesale basis
  • Proficio grew 15.5% to 119 loans after a slow month in February that was below their twelve month average
  • AAG grew just under 1% to continue their reign at the top of the chart, almost doubling the nearest rival
  • On the single month chart (page 4), Moneyhouse jumped 358% to join the top 10 for the first time

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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Little Dipper – HECM Lenders April 2015

May 1, 2015

HECM endorsements declined -3.1% in April to 4,497 loans from March. The decline was fairly broad based and reflects some weakness in fundings during the first months of the year.

  • 7 of the 10 regions declined in the month, with an eighth going sideways – and that was the smallest volume region (Great Plains)
  • New England grew 21.4% but that mostly reflects declines in Feb/Mar as it remains below the Jan level
  • Southwest grew 5.9% in a bounce back from a big drop in March

Among lenders, several stood out with strong results in April:

  • Reverse Mortgage Funding jumped 82.4% to their highest total in their history and continuing to close the gap in run rates with the top 5 lenders
  • RMS/Security One grew 16.9% after two slower months
  • Live Well rose 15.8% to their highest total in recent history

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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Two Down – HECM Trends February 2015

April 27, 2015

Two months into the year HECM endorsements are down -5.5% from last year’s comparable period and slightly less so from the weak start in 2013. This early in the year things can shift around considerably and February was no exception.

  • The top 3 states CA, FL and TX all improved their YTD growth rates from last month, with CA and FL having the additional distinction of being the only states showing growth over last year so far
  • Virginia improved from January but continues to show the worst year over year decline among the top 10 states
  • Refinances also grew, making up 11% of endorsements compared to 10% last month and 4% in February 2014

Our HECM Trends report is meant to give an overview of national trends in the reverse mortgage industry, but if you’re wondering how this can help you close more loans it’s probably better to look at more local trends to answer your key business questions:

  • Where will your marketing dollars generate the most leads?
  • Which zip codes should you hold seminars in?
  • Where should you build your B2B network for professional referrals?

Contact us to see our Retail Dashboard to find answers to these questions and more – plus get your first month free (limited time offer).

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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