ReverseIQ Newsletters

HECM Originators – June 2017

August 14, 2017

HECM endorsements declined -0.3% in June, but Retail/direct grew 0.8% to 2,530 loans while Wholesale/broker dropped -1.6%.

5 of the top 10 lenders grew their volume despite the small industry decline, with a huge spread between the top and bottom results:

  • Finance of America Reverse grew 37.9% to 906 loans, their highest reading in over 12 months
  • Synergy One was just a hair behind, rising 37.2% to 343 loans and their highest monthly total yet
  • Nationwide Equities also jumped 22.6% to 141 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 – July 2017

August 1, 2017

HECM endorsements declined -12.1% to 4,254 loans. That drop completed the round trip back to February volume levels after a large increase in March, although staying slightly above the monthly average from last year.

  • 9 of the 10 regions around the country declined, with the exception being the smallest region (Great Plains)
  • Each of the top 10 lenders declined, with the smallest being a -5.3% decline from Finance of America Reverse and RMS dropping out completely

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 – May 2017

July 25, 2017

HECM endorsements are running 16.1% ahead of last year’s first five months, which is easy to see from the trendline on page 1 of our HECM Trends report.

  • That 16.1% growth figure is up from 12.5% as of April, mostly because the industry took a big swing south in May 2016
  • The five month total of 24,237 loans is also higher than 2015 and 2014 (and 2012 for that matter), which leaves 2013 and the volume levels last seen before both initial draw limitations and financial assessment were enacted

Refinances do remain high relative to historical levels at 15% in May and there was considerable growth in the number of active originating companies from a year ago (+23.8%).

It’s fair to say the industry’s origination volume is healthier than it’s been in several years, but still less than half the peak volumes of almost a decade ago.

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

HECM Trends

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