ReverseIQ Newsletters

HECM Trends June 2015

August 24, 2015

HECM endorsements saw a big jump in June thanks to borrowers acting ahead of Financial Assessment implementation: applying and receiving a case number prior to April deadline, even through loan funding and endorsement happens later.

And we certainly saw some varied performance among states and cities:

  • California continued to improve on last year’s pace, up 12.9% year to date compared to just 8.8% last month
  • Florida upped the pace yet again to 26.1% growth, highest in the top 10
  • Texas jumped all the way to +8.9% growth after showing a decline of -1.0% last month!

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

HECM Trends

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HECM Originators June 2015

August 10, 2015

HECM endorsements jumped 24% in June as borrowers rushed in before Financial Assessment rules would apply to their loans (all case numbers issued after April 4). This growth fueled solid gains for several top ten lenders:

  • A full 8 of the top 10 lenders (page 2) grew by at least 10% in June, but #10 ranked Home Point Financial (fka Maverick Home Loans) led the way at 55.2% with 149 loans
  • RMS grew 44.4% to 387 loans, bouncing back from a big drop in May
  • Liberty and Urban grew 35.6% and 35.3%, respectively, battling hard for the #2 spot

Several others made even bigger splashes in our page 4 originator rankings as the rising tide lifted many:

  • The Money Store more than tripled, up 380% to 48 loans and #15
  • GMFS grew 83% to 55 loans and #12
  • High Tech Lending grew 69% to 81 loans and our #10 spot for the month

Last but not least, a recent subscriber to our Retail Dashboard, United Southwest (dba All Reverse Mortgage), jumped 59% to 51 loans and #13 ranking. Find out how our Retail Dashboard can help you grow too!

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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HECM Lenders July 2015

August 3, 2015

HECM endorsements fell 5% to 5,029 loans in July, but still represent the second highest level of the past 12 months trailing only last month’s surge.

  • Mid-Atlantic led the way among regions with a 18.3% gain to 601 loans
  • New England also posted double digit growth at 13.2%, totaling 232 loans

Several lenders showed big swings as well:

  • Urban jumped 46.6% to 478 loans, their highest level in over 12 months
  • Reverse Mortgage Funding grew 25.5% to 251 loans, just below their April record performance of 259
  • Last but not least, RMS grew 13.4% to 389 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.

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