ReverseIQ Newsletters

Archive for the ‘HECM Originators’ Category

Retail Pacing – HECM Originators December 2014

Retail led the increase in HECM endorsements for December, up 14.7% to 2,867 units compared to 12.1% rise for the industry overall. Wholesale grew somewhat slower, up 8.7% in the month.

  • One Reverse led the growth among lenders, rising 45.9% to 540 loans
  • Reverse Mortgage Funding also had a strong month, bouncing up 34% overall (page 2) after a dip in November, and 72.3% on a retail basis (page 4)
  • FirstBank made a strong push to close out the year, rising 50% to 9th place for the month and 13th on the year (page 4)

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.

Lender Rankings – HECM Originators November 2014

HECM endorsements declined modestly in November after a big rise in October, split almost evenly across business channels. Retail originations declined slightly more, down -9.8%, than wholesale/broker volumes at -8.2%.

Lender volatility was a little more significant although still relatively muted as 9 of the top 10 declined on the month.

  • Live Well was the lone exception, growing 20.9% compared to October (top of page 2 using the link below) and showing even stronger 36.4% growth in their retail/direct originations (page 4 of the linked report).
  • High Tech Lending grew 116.7% to 78 loans on the month, putting the company in sight of last year’s endorsement total (down just -9.3% YTD on retail)
  • Open Mortgage rose 78.1% over October

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.

Brokers Leading – HECM Originators October 2014

October started off the fourth quarter strong for HECM endorsements, rising 28.9% to 4,851 loans. That rise was led by brokers, as the wholesale channel grew 37.3% compared to an only slightly less impressive 23.4% for the larger retail/direct channel.

  • On the wholesale side, Urban continues to lead all wholesale lenders followed by Liberty and AAG, but AAG is the only one among the top three that has grown wholesale volume over the past 12 months
  • Retail paints a similar picture as AAG is ranked first but again is the only one grower in the past 12 months, followed by One Reverse and RMS/S1L rounding out the top three
  • It’s rare that the same company is the top grower by volume in both retail and wholesale, an impressive feat by AAG, but it’s worth noting that 2 other companies also appear in the top 5 for both channels: Live Well and Reverse Mortgage Funding.  Kudos to all three companies for growing in a tough year overall for the industry!

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.