June 20, 2016
HECM endorsements through April were down -8.2% from the first four months last year. That’s a bigger decline than we saw last year at this time, but there are still some big volume leaders growing around the country.
This month we’ll focus on cities in our top 10 list on page 1 of the HECM Trends report:
- Denver is only #8 for volume YTD, but tops on our list for growth at 32.4%
- Houston comes in #2 for both volume at 145 loans and growth at 12.4%
- San Diego gets all the good weather and spot #3 too, with 136 loans in a 7.1% rise from last year
Be sure to check out the full report by clicking the image below.
June 13, 2016
HECM endorsements dropped -6.3% in April overall, but Retail dropped significantly more at -7.6% compared to a Wholesale decline of -4.4%. As usual, several originators managed to buck the downtrend:
- On the Retail side, RMF and Liberty each managed to increase 37% in April to lead the top 10 lenders
- Over on the Broker/Wholesale side, Approval First Home Loans (+128.6%) and Bank of England (+114.3%) each more than doubled from their March production
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.
June 1, 2016
HECM endorsements dropped dramatically in May to 3,646 loans – a full -14.1% decline from April. That’s the lowest monthly total since August 2014 as the industry struggled with the implementation of initial utilization restrictions.
All 10 regions of the country were down in the month, but 4 of the top 10 lenders improved:
- Finance of America Reverse grew 22.2% to 330 loans
- High Tech Lending increased 15.6% to 104 loans
- RMF and Synergy One grew 5% and 2%, respectively
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.