ReverseIQ Newsletters

Florida Bounce – HECM Trends August 2014

October 27, 2014

In spite of the ugly chart at the top of page 1 showing August endorsement volume falling off the cliff compared to the last 2 years, there’s always a bright spot. In this case, Florida is showing up in our rankings with growing maximum claim amounts (MCA) on page 2:

  • Port Saint Lucie tops the list of cities with growing loan sizes, increasing $61,000 over last year to $174,000 on the average loan
  • Boynton Beach checks in third on the same list, up $52,000 to $274,000 (trailing our office HQ town of Mission Viejo!)
  • And Jacksonville takes the eighth spot as well

Loan counts are down in many places and average initial balances are down due to initial utilization restrictions, so it’s great to find places where home price appreciation can help you weather the storm!

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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Nine Years Back – HECM Originators August 2014

October 21, 2014

August was an ugly month for HECM endorsements, dropping -20.6% to the lowest level since June 2005. Wholesale/broker volumes dropped -26.3%, significantly more than the -16.2% decline in retail/direct business.

In spite of the tough sledding, there were still a few bright spots in the results.

  • Cherry Creek jumped 42.2% to 91 loans
  • Proficio grew 14.5% to 134 loans
  • One Reverse Mortgage managed a gain of 5.4% to 392 loans

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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Baby Bounce – HECM Lenders September 2014

October 1, 2014

HECM endorsements bounced back from a dismal showing in August, rising 15.5% to 3,762 loans. That’s still below last year’s pace of 4,527 loans, but the gap is at least narrowing compared to last month’s drop of over 2,000 loans from Aug 2013.

Through 9 months, 2014 is running -6% behind the pace from 2013 in spite of the September bounce. Several lenders recovered nicely as well:

  • Liberty more than doubled from August to show their highest volume since March at 372 loans
  • Generation bounced back 43.8% after a big August drop that now looks mercifully short
  • AAG continues to lead the pack and bounced 34.8% to get back over 1,000 loans per month

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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