Category Archives: HECM Originators

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 […]

HECM Originators – October 2021

HECM endorsements jumped significantly higher in October, and now we know that Wholesale/Broker volume powered 23.2% compared to 12.3% growth for Retail/Direct.

We talked plenty about top 10 lender performance highlights in our Lenders post for the month, but originators that aren’t FHA approved lenders are what makes this report different:

  • Ennkar jumped 82% to 133 loans […]

HECM Originators – September 2021

September saw a return to normal for HECM endorsements, with loan count rising 17.6% after a disappointing August to full recover to the tight range seen before that. Wholesale/broker volume rose 16.6% to hit the highest level in more than a year (likely surpassed in October) while Retail gained 19.3% to leave it just shy […]

HECM Originators – August 2021

August was a bit of a lost month for HECM endorsements, as we saw volume drop -14.1%. Some combination of summer vacations, endorsement lag times, and slowing business activity. Pick your favorite order.

Which makes this a good month for other aspects of our HECM Originators report that don’t always show up:

  • Open Mortgage is […]

HECM Originators – July 2021

HECM endorsements rose 2.8% in July to 4,276 loans. Wholesale declined for a fourth straight month, dropping -1.7% while Retail bounced back 5.9% from a poor June showing.

Lenders fared better in the rising tide, with 6 of the top 10 lenders increasing volume.

  • RMF jumped 55.8% to 642 loans, good for second highest for the month
  • South […]

HECM Originators – June 2021

HECM endorsements dropped -4.2% in June to 4,158 loans. Wholesale declined -2.1% to outperform Retail (-5.6%) for the first time in 5 months.

That subtle shift in channels showed up powerfully in lender performance, although once again just 3 of the top 10 lenders gained on the month.

  • Mutual of Omaha surged 43.5% to 333 loans – […]

HECM Originators – May 2021

HECM endorsements rose 3.8% in May, with Retail (+10.7%) outperforming Wholesale (-5%) for the 4th consecutive month.

Only 3 of the top 10 lenders increased volume in May, but putting that together with Retail dominance should make the top performing lender no surprise:

  • AAG lapped the field, jumping 32% to put 1,000+ loans between them and second […]