ReverseIQ Newsletters

Almost Growing – HECM Trends April 2015

June 16, 2015

April HECM endorsements were down a little from March but higher than a year ago, which brings the year to date tally to just -1.1% lower than last year. That figure was -3.6% in March and -5.5% in February, so on that front at least the trend is headed the right direction.

  • Florida continues to lead the growth among top 10 states, now up 20.3% year to date
  • Texas flipped to positive growth from last year in April, now up 1.9% year to date
  • Arizona continues to grow stronger as well, up 3.6% year to date compared to 0.2% last month

Meanwhile, an interesting picture is developing in Southern California:

  • Los Angeles city grew faster in April while the county’s growth rate dipped, as the growth became more localized
  • Riverside county ramped up its growth rate to the southeast of LA, while its cousin San Bernardino to the north slowed down
  • Harris county in Texas sports the highest growth rate among the top 10 counties in the nation, growing faster than its Houston city segment

Check out all these trends in greater detail with our Retail Dashboard:

  • Drill through from LA county results to the cities and zip codes for placing your marketing
  • Find out which cities and zip codes in your county are generating the most loans right now
  • See all of the counties, cities and zips in Florida, Texas and Arizona

Contact us to for your personal demo of our Retail Dashboard to find answers to these questions and more – plus get your first month free (limited time offer).

Check out the full HECM Trends report below by clicking the image below.

HECM Trends

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Topsy Turvy – HECM Originators April 2015

June 8, 2015

April marked the fourth month in a row with a split in business channel growth for the reverse mortgage industry. For April, Retail declined -6.3% and Wholesale grew 1.7%. All in a month where endorsements declined -3.1%, with declining volume also being a trend in its fourth consecutive month.

But of course, a slow decline over the course of the past four months doesn’t stop some originators from growing their volumes:

  • Reverse Mortgage Funding jumped 89.4% to 377 loans on a combined basis (page 2), but an even higher 134% on a retail basis (124 loans)
  • Cherry Creek grew 23.6% to round out the top 10 with 89 loans combined
  • FirstBank grew their retail loans 46.7% to 44 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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Four Again – HECM Lenders May 2015

June 1, 2015

HECM endorsement volumes declined for the fourth month in a row, declining -5% to 4,273 loans in May. That’s the lowest level since September, but the good news is that it’s still higher than each of the four months ending last September. Industry volume has dropped noticeably from the recent peak in January but we’re not in danger of making new lows yet.

  • Just 3 of the 10 regions we track were up last month, with #2 Southeast/Caribbean among them, but both Midwest and NY/NJ grew at faster rates
  • Southeast/Caribbean also re-claimed the top spot for the month from Pacific/Hawaii – over the past 4 months the region has grown 3.7% while the industry overall shrank -13.6%
  • Drilling into this region on page 4, we can see that several metro areas are up over last year including some of the largest: Miami, Atlanta and Tampa

Several lenders performed better than the rest of the industry in May:

  • United Northern jumped into the top 10 for the first time, growing 23.3% from last month to 74 loans
  • One Reverse maintained its vice like hold on the #2 ranking, rising 18% to 518 loans
  • Last but not least, Live Well grew 7.5% to 173 loans – its highest volume on this report in over a year

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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