ReverseIQ Newsletters

Archive for the ‘HECM Originators’ Category

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.

Volatile Rankings – HECM Originators March 2014

Month to month HECM endorsement volume is always volatile, but the past few months have seen more than the usual jumps in lender rankings and performance. Blame the overall industry swings in the adjustment to FHA policy changes last year, which is also why overall volume was down -10.6% in March from February.

  • Liberty Home Equity grabbed the #1 ranking for a second consecutive month on the back of 1,437 total loans (top of page 2), of which 583 were retail (page 4)
  • American Advisors continues to have the highest volume retail group at 656 loans in March and supplemented with wholesale to drive a #2 overall ranking
  • Other lenders saw big drops, likely due to endorsement lumpiness and intense price competition for wholesale 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!

Click the image below to access the full report.