March 3, 2014
HECM endorsements rose 2.1% in February to 5,166 loans. This small rise put the industry back into positive year over year territory after showing a small decline in January, but that’s going to get a lot harder as March 2013 volume was at levels we haven’t seen since and application and funding volumes in recent months suggest weak endorsement volumes as soon as this month.
Several things stood out this month beyond total industry volume:
- Liberty HES showed a huge volume increase to lead the industry for the month, at 838 loans after just 201 in January. This could be catching up on endorsements more than anything else since Dec/Jan were quite low.
- Pacific/Hawaii region continues to crank out the volume at 46.5% growth from last year, with Las Vegas and Honolulu leading the charge at 110% and 83%, respectively
- In keeping with the lower industry total volumes, just 108 loans over 2 months was good enough to crack the top 10 lenders for HighTech Lending and Sun West
- And a single high volume loan officer could crack the top 100 lenders list, with ranks 97-100 each showing just 9 loans total for Jan-Feb
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February 24, 2014
The simple way to look at last year’s HECM endorsement activity is that total loan count was up 15.2% from 2012. But for anyone living through 2013′s wild ride, it probably felt like anything but a smooth journey upward.
Arizona and California led the way with loan volume growth in 2013, up 61% and 36%, respectively. Each benefited from recovering home prices, although in different ways.
- Phoenix was a poster child for housing price declines and powered the Arizona volume increase – a boom following a bust
- California’s volume resurgence was more broadly based, from the coastal areas more insulated from home price declines to the inland areas that dropped >50%
As the saying goes, location is everything in real estate businesses! If your longtime marketing areas aren’t producing after the recent product changes, it’s time to refine your focus for 2014.
Check out your state/county/city/zip in the full report below (click on the image) or feel free to give us a shout if you’d like a personal deep dive to see how this information can focus your opportunities.
February 19, 2014
Final lender rankings for 2013 are here! Find your company in the consolidated list of lenders on page 3, or single month rankings of all originators including brokers on page 4.
Lender rankings shifted significantly over the course of 2013, especially as the response to 9/30 product changes started to settle in. Four different lenders achieved the top spot on a monthly basis!
- Liberty finished with the highest volume for the year and led industry volume Jan-Mar and again in June and August, before trending down toward year end
- Security One/RMS finished second with consistently high volume capped off in December with the #1 ranking
- American Advisors Group finished third after reaching the top spot in April and May
- Urban finished fourth in a wild year that saw the company lead all lenders in 4 different months: July and September-November
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