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Archive for the ‘HECM Originators’ Category

Channels Aligned – HECM Originators June 2014

We knew HECM endorsements for June were down -7.4%, and can now say that decline was felt in both retail, down -9%, and broker/wholesale, down -5.2%. That’s the bad news, but the good news is that we are seeing applications trend slowly but steadily upward for the past few months in our repository data, and lenders are also starting to roll out new jumbo reverse products.

We haven’t yet seen the fundings make a lot of improvement yet from the higher application volumes but that will eventually show up in these endorsement figures. The jumbo reverses, however, won’t show up at all in endorsements or other publicly available data but only in our Weekly Product Trends report to subscribers.  Contact us for a free sample and pricing.

Some lenders of course did better than others in June:

  • Liberty Home Equity Solutions bounced back to 496 loans from 371 in May
  • RMS/Security One showed the highest volume since February at 482 loans
  • One Reverse rose to 425 loans in one of the steadiest displays among major lenders over 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.

HECM Originators May 2014

HECM endorsements rose 7.8% in May, but the big winners were retail lenders with volume up 12.2% compared to just a 2% rise for broker/wholesale volume. Retail is at 59% of industry volume, just short of the 61% reached in September and December last year.

  • American Advisors Group continues to impress with a new high of 1,481 loans, up 17.7% from April
  • RMS/Security One bounced back with a 24.8% rise to 392 loans and fourth place
  • Proficio rose 23.3% to recover some of the losses from the past three 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.

Down or Flat? – HECM Originators April 2014

HECM endorsements declined -9.7% in April, but it was a tale of two business channels as retail/direct volume was flat but wholesale/broker volume declined -19.9%. We’ve seen this pattern of greater volatility on the broker side of the business over the years, but even so it’s rare to have the gap this wide.

  • American Advisors Group was the biggest winner for April, with a number one overall ranking (page 2) for the trailing twelve months but also a strong increase in retail volume to 997 loans for just April (page 4).
  • Illustrating just how much volume has been reduced across the industy following last year’s FHA policy changes, it only took 6 loans for the month of April to break into the top 100 originators nationwide. One year ago it took 8 loans and 5 years ago it took 15.

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.