September 27, 2016
HECM endorsements are down -15.6% through July this year, but there are always some areas of the country doing well. We’ve picked out a few below but check the full report to find your closest growth area!
- Colorado is a swing state in the election this year and is showing strength in other ways too, bucking broader reverse trends to grow 25.7% so far this year
- Washington is solidly blue in the election but green for HECMs, growing 13.6% year to date
We can’t single out those two states without making a little joke about what they have in common (hint: reverse customers today used to be part of the Woodstock generation)
Be sure to check out the full report by clicking the image below.
September 19, 2016
HECM endorsements dropped -6.2% in July, with Retail giving back all of the gains in June on a -7.2% decline while Wholesale posted a fifth straight month of declines, down -4.8%. Even so, several companies showed impressive growth on the month in our page 4 rankings:
- ReverseMortgages.com grew 26.9% from June and continues an impressive first year in the business with 300 loans year to date and 8th place ranking in July
- Quontic Bank jumped 92.3% in July to 25 loans and 18th place on our list
- Reverse Mortgage Funding’s retail team jumped 68.5% to 182 loans and 3rd place
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.
September 1, 2016
HECM endorsements rose 24.1% in August to 4,387 loans in a welcome reprieve from the prior three months below the 4,000 loans/month level.
Volume was up across the board in all 10 regions, with the biggest jump in Rocky Mountain at 54.8% to 356 loans and that region’s highest monthly total in over 12 months.
Our top 10 lenders were a bit more varied, with only 7 of 10 growing but also some real standouts:
- Reverse Mortgage Funding jumped 74.2% to 460 loans, good enough for third place on the month
- Finance of America Reverse was just behind at 73.8% growth to 518 loans
- High Tech Lending continues bounced back 71.3% to 137 loans from a disappointing July total to resume their impressive rise this 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.