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!
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