ReverseIQ Newsletters

One Month In – HECM Trends January 2015

March 17, 2015

It’s always fun to look at year to date results for the first month of the year because we’re effectively comparing January with last January. On the one hand, any single month comparison is noisy and potentially misleading since endorsements are typically less managed than applications or funding. On the other, it’s useful to think about how much the industry has changed in the past 12 months. In the latter spirit (but keeping the former in mind), here goes:

  • January was down -2.3% from the prior year, which is almost the same as the -2.5% drop from 2013 to 2014 for the month
  • Florida was the fastest growing state among the top 10, rising 15.2% and rising back above Texas to claim #2
  • Baltimore and Las Vegas both had massive growth figures at 100% and 85.7%, respectively, but top ranked Los Angeles impressed with 23.8% as the largest city for HECM volume

We’re excited to announce a new interactive tool that allows you to pinpoint HECM activity all the way down to zip codes by lender. Contact us today for a demo!

Check out all the top states, cities and zip codes nationwide in the full report below by clicking the image below.

HECM Trends

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Steady Before FA – HECM Originators January 2015

March 9, 2015

HECM endorsements were relatively flat across both retail (+0.2%) and wholesale (-0.5%) in January, leading to a steady overall industry volume picture. As always though, there was movement in the rankings below the headline number.

  • RMS/S1L bounced back with a 26% increase from December, marking the company’s highest volume month since last February
  • Urban jumped 15% to put in its highest showing since March
  • Cherry Creek’s 1st Reverse team grew 10% for their second highest monthly total of the past 12 months

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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Short Month – HECM Lenders February 2015

March 2, 2015

HECM endorsements for February declined -4% to 4,747 loans from last month and dropped a bit more, -8.1% from a year ago.

  • 7 out of 10 regions were down on the month, including the two largest, Pacific/Hawaii and Southeast/Caribbean
  • The smallest region, Great Plains, gained 19.8% to lead all regions in growth and put in its highest volume since October
  • Among the top 10 lenders, Maverick Funding jumped 71.6% to match their highest total since June 2013

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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