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HECM Trends – April 2017

While industry endorsements slipped a bit in April, year to date volume is still 12.5% higher than last year. Refinance transactions have picked up steam in 2017, coming in at 14% of endorsements. Even so, non-refi loan volume is up 8.8% year over year.

  • Colorado continues to experience tremendous growth, with volume up almost 70% from last year.
  • Denver is leading the way in the city list, with volume growing 40%
  • King County in Washington jumped 60.3% over last year

Find out where else HECMs are growing in our full report by clicking the image below.

HECM Trends

HECM Originators – April 2017

April brought the obligatory drop in endorsements after the big month in March, with volume falling 6% to 5,034 units. That is still good enough for the 2nd highest volume month in the last 12 months, and 4th highest in the past 2 years.

  • Wholesale/broker volume fell 3.6% to 2,511 loans
  • Retail/direct volume fell further, down 8.2% to 2,523

As would be expected in a down month, most of the top 10 institutions had lower volume, with a couple of exceptions:

  • RMS/S1L volume spiked more than 300% to 276 units(page 2)
  • Reverse Mortgage Funding increased from 546 to 574 units
  • One Reverse inched up to 261 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.

HECM Originators

HECM Lenders – March 2017

HECM endorsements gained 21% to 5,364 loans in March, marking the second highest total seen in the last 3+ years. We’d guess that the majority of gains are from endorsement timing issues since the FHA application volume hasn’t seen these kinds of gains in recent months. That said, there are still some interesting nuggets to be found in this month’s report:

  • All but one region grew volume in March, led by the Pacific/Hawaii group (+250 units). The lone laggard was the New England region, down 1 loan from February.
  • Similarly, all but one of the top 10 lenders notched higher volume in March, with Nationwide Equities (+93%), Finance of America (+79%), and Liberty (+43%) leading the way.
  • AAG improved further on its industry leading volume, rising 9.7% to 1,167 loans, which marks their 9th largest volume month ever.

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.