May 17, 2016
March endorsement volume was mostly flat, with Retail growing by 9/10 of a percent, and Wholesale/Broker volume down 3.88% over February.
Leading the way for the month were Live Well, up 87%, and Reverse Mortgage Funding, with growth of 28%. Of the top 10 lenders, AAG, Synergy One (RFS), and Home Point all grew in the single digit range for the month.
Don’t forget to check out the rankings on page 3 (trailing twelve months with channel spl`its) 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!
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May 2, 2016
HECM endorsements fell -6.4% to 4,243 loans in April, continuing the decline from a year ago which now totals -8.4% through the first four months. In spite of that dour news, some lenders have risen above:
- Nationwide Equities is up 163% from last year, good enough for 10th place on our page 5 rankings YTD
- High Tech Lending is up 62% to 355 loans and #11, just 5 loans per month below a top 10 pace
- Live Well jumped 32% to 734 loans and #7
This is also a good time to look at regions of the country experiencing growth:
- Rocky Mountain is small but boasts 24.9% growth from last year, with much of the growth coming from Denver metro (up 46.4%)
- Northwest/Alaska is another smaller region up 20% to 967 loans, spread between Seattle and Portland
- Pacific/Hawaii is the largest region yet still manages 7.2% growth to 4,821 loans, with Reno, Sacramento, and Fresno particularly strong
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.
April 19, 2016
HECM endorsements have been lower than 2014 and 2015 for each of the first two months (and March will continue that pattern), but the gap is at least narrowing. That makes year over year comparisons a little rosier, particularly if we drill into some of the warmer markets as Spring thaws more of the country.
- Denver specifically, and Colorado more broadly are both on a tear this year, up 47.4% and 45.9%, respectively
- Washington state is up 20.9% through Feb to 237 loans, good enough to tie for 7th with North Carolina on volume (with a much higher growth rate although NC is also positive)
- Two adjacent zip codes in St George, UT made the top 10 list nationally and even more impressive is that 29 of the 45 loans there were HECM Purchase
To follow on that last point, among the top 10 zip codes by volume listed in our report 5 more loans were Purchase than were refinances of prior HECMs.
Be sure to check out the full report by clicking the image below.