November 24, 2015
Happy Thanksgiving to everyone in every corner of the reverse mortgage industry! Hope everyone has fantastic feasts with family and friends.
September HECM endorsements dropped -18.8%, but as we typically see in volatile months for volume wholesale moved quite a bit more, dropping -26.2% compared to retail’s -11.6%. As usual though some companies bucked the trend.
- AAG crept up 0.5%, no small feat in the face of a stiff industry drop on the month
- Even more impressive was a 44.7% increase from Home Point at the #10 spot in our rankings, to their highest total since March
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.
November 2, 2015
HECM endorsements fell -7.3% in October to 4,332 loans. The continued decline shows the impact of Financial Assessment implementation earlier this year as the pre-implementation pipeline of loans has almost entirely worked its way through the endorsement process.
Surprisingly, 6 of the 10 regions we track actually increased on the month, but it’s hard to see the industry grow when the top 2 regions shrank so much. Pacific/Hawaii endorsement volume alone has been cut in half in just the past two months.
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.
October 26, 2015
HECM endorsements hit a high water mark in August, reaching 5,749 loans. That was higher than 2013 and 2014 for August, and overall was the highest volume level since March 2013.
- California made a big jump as the top state in the country, up 30.5% from last year to 7,917 loans – almost 1,000 per month on average
- Los Angeles jumped from 16.2% growth last month all the way to 35.9% year to date this month, with 452 endorsements just in August
- LA also further extended its lead as the top city, jumping to 412 loans YTD and 45.6% growth over last year
Several other areas also showed impressive results in the big volume month, so be sure to check out the full report by clicking the image below