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Month to month HECM endorsement volume is always volatile, but the past few months have seen more than the usual jumps in lender rankings and performance. Blame the overall industry swings in the adjustment to FHA policy changes last year, which is also why overall volume was down -10.6% in March from February.
A second straight month of increased endorsements and now we know wholesale/broker volumes were ahead of retail too. Total HECM endorsements were up 2.1% in February, but that masked 12.4% growth in wholesale/broker volumes while retail shrank -6.3%.
We’ve seen this pattern before with more volatility in broker […]
We wrote in a previous report of our surprise at January’s 19.7% increase in HECM endorsements, now we know that it was primarily wholesale channel loans powering that surge. Wholesale volume rose 39% in January, compared to a 7.5% increase on retail/direct endorsements from December.
Many of the […]
Final lender rankings for 2013 are here! Find your company in the consolidated list of lenders on page 3, or single month rankings of all originators including brokers on page 4.
Lender rankings shifted significantly over the course of 2013, especially as the response to 9/30 product changes started to settle in. Four different lenders achieved […]
We previously reported that HECM endorsements for Nov 2013 were up 11.9% from October, but today we will dive into more detail about retail/direct lenders vs. wholesale/broker channels.
As we’ve mentioned before, a familiar pattern for these channels is to see wholesale as a more volatile channel […]
Updates from a broker and wholesale perspective have been hard to come by this year, but publishing this July edition of HECM Originators should give a better sense of total industry rankings including the effects of broker volumes.
We already know that HECM endorsement volume was up in July, but it had been harder to track […]
After a long hiatus, HECM Originators is back with the most accurate lender rankings (including both retail and TPO/broker volume) and originator rankings (including TPOs and brokers alongside FHA approved lenders) in the industry.
Last time we published this report, Metlife Bank was still the top lender on a trailing twelve month basis. This month we […]
HECM volumes took it on the chin in September, dropping -10.6% from August. Retail (-11.1%) and Wholesale (-9.9%) fell by similar percentages, with the drop of First National Bank of Layton from Retail due to their previously announced exit likely made the difference between the two.
Continuing the trend of companies capitalizing on lender exits, Proficio […]
August HECM endorsements bounced back up 7.1% from what we now know was only the first exceedingly low volume month in Q3. We also see that the bounce was entirely in the Retail/direct channel of the business, whereas Wholesale/TPO business was essentially flat from July to August.
Looking […]
In our HECM Lenders report about July’s volumes, we noted that Metlife’s exit seemed to work through the endorsement numbers faster than Wells and BofA last year. The new information to report here is that both Wholesale/brokered and Retail/direct endorsements were down strongly(-27.8% and -24%, respectively), […]
