HECM endorsements overall were down -6.6% in November, with Wholesale/brokers (-7.3%) and Retail/direct (-6%) both feeling the drop.
Just 3 of the top 10 lenders were positive on the month:
- Liberty bounced 22.1% higher to 321 loans
- Longbridge gained 2% to 450 loans as they continue to gain ground on FAR in second place
- Fairway also rose 2% to 200 loans
Case numbers dropped yet again in November, losing -20.5% to finish at just 3,313 new cases.
- Equity Takeout cases issued (new reverses that are neither purchase nor refinances) fell -16.9% to 2,840 – just above the 3 year low back in Jan 2021
- H2H refinance case numbers dropped to 297 – the lowest level since March 2019
- Purchase (H4P) dropped back to 176, as seasonality and general declines both appear to have hurt this small segment
If you’re searching for ways to turn things up as we enter 2023, check out the links below:
- Leave rate sheet busywork behind with our Pricing Platform
- Find new reverse customers with the higher lending limits
- Contact us now to get a sneak preview of our Product Qualification API launching in Q1
Check out the full rankings on pages 3 and 4 of the full report below by clicking on the image.
