April 19, 2016
HECM endorsements have been lower than 2014 and 2015 for each of the first two months (and March will continue that pattern), but the gap is at least narrowing. That makes year over year comparisons a little rosier, particularly if we drill into some of the warmer markets as Spring thaws more of the country.
- Denver specifically, and Colorado more broadly are both on a tear this year, up 47.4% and 45.9%, respectively
- Washington state is up 20.9% through Feb to 237 loans, good enough to tie for 7th with North Carolina on volume (with a much higher growth rate although NC is also positive)
- Two adjacent zip codes in St George, UT made the top 10 list nationally and even more impressive is that 29 of the 45 loans there were HECM Purchase
To follow on that last point, among the top 10 zip codes by volume listed in our report 5 more loans were Purchase than were refinances of prior HECMs.
Be sure to check out the full report by clicking the image below.
April 12, 2016
HECM endorsements growth in February was led by Retail/Direct lenders rising 20.3%, while Wholesale/Brokers put in a 14.3% increase that would be impressive in most any other month.
- Liberty led the way with 67.9% increase from Jan, putting its highest monthly volume total since August
- RMF jumped 22% on the month to 266 loans
- One Reverse bounced back after a weak January, rising 15% to 330 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!
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April 1, 2016
HECM endorsements dropped 1% in March to 4,535 loans. The fairly steady pace indicates that February’s big increase was more than a one month story of lenders “catching up” on endorsements from prior months.
There was significant divergence among regions, with only 4 of the 10 showing growth amid the small national drop.
- Mid Atlantic led the way with 27.6% growth in March, although it’s still down -31.3% from last year’s first three months
- Midwest grew 13.2% on the month but also shows a decline from last year
All the growth year to date is in 3 western regions as shown on pages 3 and 4:
- Northwest/Alaska is up 17.7% year to date with 744 loans
- Rocky Mountain is just behind at 17.6% growth with 802 loans
- Pacific/Hawaii is the largest region by volume but still managed 6% growth to 3,703 loans
- Southwest is the only western region posting a decline in Q1, down -12.1% with 1,447 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.