August 3, 2015
HECM endorsements fell 5% to 5,029 loans in July, but still represent the second highest level of the past 12 months trailing only last month’s surge.
- Mid-Atlantic led the way among regions with a 18.3% gain to 601 loans
- New England also posted double digit growth at 13.2%, totaling 232 loans
Several lenders showed big swings as well:
- Urban jumped 46.6% to 478 loans, their highest level in over 12 months
- Reverse Mortgage Funding grew 25.5% to 251 loans, just below their April record performance of 259
- Last but not least, RMS grew 13.4% to 389 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.
July 22, 2015
For the country as a whole HECM endorsements declined -1.9% in the year through May, but as always some areas of the nation are doing better than that and/or have picked up the pace since last month.
- California strengthened to an 8.8% growth pace, up from 7.4% last month
- Arizona also upped its growth rate to 5.7% from 3.6% last month
- New York popped up above the national pace at -1.8% decline, improving significantly from -4.2% last month
Check out the full HECM Trends report below by clicking the image below.
July 14, 2015
HECM endorsements dropped -4.9% in May, with wholesale/brokers bearing a slightly larger share of the decline at -5.4% compared to retail/direct at -4.6%. There were some large declines for some top ten lenders, but as always there were winners too:
- Live Well grew volume 30% to 299 loans and their highest monthly total in over a year
- One Reverse bucked the trend as well, growing 18% to 518 loans and second overall ranking on the month
Outside the top ten lenders, several originators made their mark:
- FirstBank grew 22.7% to 54 loans (#11)
- High Tech grew 29.7% to 48 loans (#12)
- United Southwest aka All Reverse jumped 45.5% to 32 loans (#15)
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.