Category Archives: HECM Originators

HECM Originators – Sep 2022

HECM endorsements plummeted -43.5% in September, with both wholesale/brokers (-47.3%) and retail/direct (-39.8%) off dramatically from August.

The top 10 lenders fared worse collectively than the industry overall, dropping -45.5%.

  • Only two of the top 10 declined less than 30% on the month
  • Mutual of Omaha dropped -7.7% to 469 loans
  • Open Mortgage fell -18.5% to 132 loans

Case numbers […]

HECM Originators – August 2022

HECM endorsements rose 16.3% in August, with wholesale/brokers (25.3%) outperforming retail/direct (8.8%) substantially.

Eight of the top ten lenders were up on the month – although it’s very likely they all declined in September on the same basis…

  • Fairway led the charge, jumping 65.5% to 293 loans
  • Longbridge was just behind, increasing 53.1% to 1,447 […]

Lower Together – HECM Originators July 2022

HECM endorsements dropped -17.1% in July, with both channels falling lower together. Retail/direct lenders lost -19.0% while the Wholesale/broker channel dropped -14.7%.

  • Longbridge stood out as the only top 10 lender to increase volume, rising 30.3% to 945 loans – an all time company high for this report
  • H2H refinance case numbers issued dropped to 1,023 in […]

Turbulent Times – HECM Originators June 2022

HECM endorsements rose 2.7% in June, with both channels modestly higher. Retail/direct lenders gained 1.6% while the Wholesale/broker channel rose 4.1%.

Five of the top ten lenders managed to rise in a surprisingly differentiated month:

  • Longbridge jumped 31.8% to 725 loans, their highest since January
  • Hightech rose 18.4% to 103 loans
  • South River bounced back 17.7% to 153 loans

Several […]

Onward – HECM Originators May 2022

HECM endorsements dropped a further -7.6% in May, with lender volume again falling more than brokers on the month. Retail/direct lenders dropped -8.2% while the Wholesale/broker channel declined -6.9%.

After 2 full years without an in person NRMLA conference, we just completed our second in 3 months in Baltimore. Business casual reigned and moods relaxed, with […]

Tides Recede – HECM Originators April 2022

HECM endorsements eased down -3.7% in April after a recent high in March, with lenders pulling back more than brokers on the month. Retail/direct lenders dropped -5% while the Wholesale/broker channel declined just -2%.

While we don’t currently publish proprietary volume numbers, there was no shortage of anecdotes at the NRMLA West conference last month that […]

Slow Erosion – HECM Originators March 2022

HECM endorsements set a recent record in March by rising 26.4% to 6,495 loans, but we’re digging a bit deeper today:

  • Wholesale/broker led the way, rising 28% to 2,765 loans
  • Retail/direct growth trailed slightly, increasing 25.2% to 3,730
  • Refis slipped another point to 48.3% of all loans in March, a second consecutive month of slight drops – and […]

Refis Driving – HECM Originators Feb 2022

We already know HECM endorsements dropped in February, but now we know that both business channels showed similar trends on the month.

We can also now say that refis continued at a high level at just over 50% of all endorsements in February – consistent with the past 9 months starting last June in a tight […]

January Jumps – HECM Originators Jan 2022

HECM endorsements rose 10.5% in January, with Retail/direct playing some catchup at 13.3% and Wholesale/broker up 7%.

Several top 10 lenders had a great start to the year:

  • Something good is clearly in the water over at Longbridge these days: rising 47.4% to 889 loans, just 5 months after posting 3 consecutive months <300 last summer
  • […]

Tally Up – HECM Originators December 2021

HECM endorsements grew 5.4% in December, led by Wholesale/broker rising 7.4% while Retail/direct managed 3.8%.

The year as a whole was notable for the sustained rise in HECM to HECM refinances as increasing home prices and low interest rates fueled a surge in resetting existing loans to allow more access to cash and/or lower accrual rates […]