ReverseIQ Newsletters

HECM Originators – February 2017

April 17, 2017

HECM volume dropped -3.5% in February to continue the modest decline from the recent high water mark reached in December. What’s notable is how different the two business channels look:

  • Wholesale/broker volume grew in February, up 5.4% to 2.092 loans – just 1.5% lower than December volume
  • Retail/direct declined -10.3% from its peak in January (one month later than industry overall and Wholesale)

A single month doesn’t make a trend and lenders catching up can distort these numbers in any given month sometimes, but it’s certainly worth watching in the next few months to see if there’s something significant going on in the channel activity.

Now, on to the lenders where there are definitely stories to be had. Just 3 of the top 10 lenders grew in the month even though their collective volume dropped just -1.3%. That covers everything from a -93.4% drop from RMS/Security One (exited origination) to two 70%+ growth stories!

  • Liberty seems to have caught up on endorsements in February, jumping 79.9% to 574 loans – a level they haven’t seen since April 2016
  • High Tech Lending grew 73.4% to 189 loans, putting the company on track to take the #8 ranking from RMS as early as next month
  • AAG also registered a solid rise, at 14.3% to 1,181 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.

HECM Originators

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HECM Lenders – March 2017

April 4, 2017

HECM endorsements gained 21% to 5,364 loans in March, marking the second highest total seen in the last 3+ years. We’d guess that the majority of gains are from endorsement timing issues since the FHA application volume hasn’t seen these kinds of gains in recent months. That said, there are still some interesting nuggets to be found in this month’s report:

  • All but one region grew volume in March, led by the Pacific/Hawaii group (+250 units). The lone laggard was the New England region, down 1 loan from February.
  • Similarly, all but one of the top 10 lenders notched higher volume in March, with Nationwide Equities (+93%), Finance of America (+79%), and Liberty (+43%) leading the way.
  • AAG improved further on its industry leading volume, rising 9.7% to 1,167 loans, which marks their 9th largest volume month ever.

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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HECM Trends – January 2017

March 21, 2017

HECM endorsements started the year off higher than last January, which makes for a lot of good growth comparisons around the country on the HECM Trends report.

  • Las Vegas led all cities, growing 185.7% to 40 loans in January
  • San Antonio also had triple digit growth, up 150% to 25 loans
  • Colorado followed an impressive 2016 with 84.8% growth to start 2017

Find out where else HECMs are growing in our full report by clicking the image below.

HECM Trends

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