ReverseIQ Newsletters

Archive for the ‘HECM Originators’ Category

Wholesale Holding – HECM Originators February 2014

A second straight month of increased endorsements and now we know wholesale/broker volumes were ahead of retail too. Total HECM endorsements were up 2.1% in February, but that masked 12.4% growth in wholesale/broker volumes while retail shrank -6.3%.

We’ve seen this pattern before with more volatility in broker volumes than retail and it’s not terribly surprising in light of the higher recent pace of product changes disrupting the industry’s sales and marketing activities. Since we know March volumes were down and we’re expecting drops in endorsements for another month or two after that, we’ll see how each business channel performs as total industry volume declines again.

Notable news in this month’s report:

  • Wholesale/broker channel volume has risen 51.8% since the most recent industry volume low in Oct, while retail has grown just 4.1%
  • The competition for top lender rankings has never been tighter, as the top 4 lenders are within 1.3% market share over the past twelve months
  • Urban has the most wholesale volume, capturing 51% of loans originated by 318 active brokers on their platform
  • Liberty has the most active brokers (758) and the #2 wholesale ranking, while Moneyhouse (#8) captures an industry high 74% of its active brokers’ volume

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.

Wholesale Bump – HECM Originators January 2014

We wrote in a previous report of our surprise at January’s 19.7% increase in HECM endorsements, now we know that it was primarily wholesale channel loans powering that surge. Wholesale volume rose 39% in January, compared to a 7.5% increase on retail/direct endorsements from December.

Many of the top 10 lenders turned in impressive numbers for the month as well:

  • Security One/RMS jumped 43.7% to 1,145 loans – the first time since August we’ve seen any lender over 1,000 loans
  • Urban rose 70.1% for their highest monthly total since July
  • Generation almost doubled, up 97.4% to 381, also their highest since July

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.

Final Rankings – HECM Originators December 2013

Final lender rankings for 2013 are here! Find your company in the consolidated list of lenders on page 3, or single month rankings of all originators including brokers on page 4.

Lender rankings shifted significantly over the course of 2013, especially as the response to 9/30 product changes started to settle in. Four different lenders achieved the top spot on a monthly basis!

  •  Liberty finished with the highest volume for the year and led industry volume Jan-Mar and again in June and August, before trending down toward year end
  • Security One/RMS finished second with consistently high volume capped off in December with the #1 ranking
  • American Advisors Group finished third after reaching the top spot in April and May
  • Urban finished fourth in a wild year that saw the company lead all lenders in 4 different months: July and September-November

Click the image below to access the full report.