October 18, 2016
HECM endorsements were up by a surprising amount in August as we pointed out in our HECM Lenders report last month, but pessimists and cynics alike can take comfort that year to date industry volume remains down at -16.8% as of August.
That being said, those looking for bright spots can continue to find hope in several sections of this month’s HECM Trends report below.
- Last month we pointed out that Colorado and Washington were the only states to grow HECM endorsement volume year to date and while that is still true, Colorado further bolstered its claim, now up 32.9% YTD, while Washington is barely hanging on at 2% growth.
- Denver is powering much of Colorado’s growth, up 55.7% to 285 loans year to date
- Los Angeles is holding up well despite California’s modest decline, rising 24%
Be sure to check out the full report by clicking the image below.
October 11, 2016
HECM endorsements rose 24% in August, and now we know that jump was powered by a jump in both Retail and Wholesale channels.
- Wholesale volume jumped 29.5% to 1,938 loans, the highest total since Sep 2015
- Retail volume increased 20% to 2,440 loans, but we only have to go back to April to find a higher total for the channel
Lenders showed even more varied performance with some standouts on both ends of the spectrum:
- RMF grew 92.3% to 696 loans on the back of a big jump in wholesale market share
- High Tech bounced back from a disappointing July, rising 71.3% to 137 loans
- FAR made it 3 top ten lenders above 50% growth, up 57.1% to 853 loans and back within shouting distance of AAG for the first time in recent memory
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.
October 4, 2016
HECM endorsements declined -14.7% in September, making the August jump look more like an outlier for now than a new growth trend.
- All 10 geographic regions declined, with Southeast/Caribbean dropping just -0.7% while Rocky Mountain dropped a whopping -42.4%
Lenders showed a more varied picture, with 4 of the top 10 managing growth:
- Nationwide Equities jumped 46.5% to 145 loans, their highest reading in over 12 months
- Liberty and Live Well were neck and neck, rising 36.8% and 35.9% respectively although Livery remains four spots ahead in the rankings
- AAG continues to extend its lead at the top of the table, up 3.8% to 882 loans
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.