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We already knew that September was a down month for endorsements in the industry overall, but now we can look at the tally in a bit more detail. We’ll talk more next week about different markets around the country in our Industry Trends report, but this week we’re focused on retail/direct vs. broker/wholesale and […]
August wholesale results are in, and as we’ve seen in past months, Retail/Direct lending in the reverse mortgage market continues to lead Wholesale/Broker volumes. Total volume for August was up 13%, with Retail/Direct up 18% and Wholesale/Broker up just 6%.
We asked last month why the volume recovery has been so narrow since May, primarily benefiting […]
As we wind down the summer with Labor Day in the rear view mirror, it’s perhaps only fitting that the rest of the year is coming into view. If July’s numbers are any indication of what’s to come, the long rumored shift in business momentum toward large institutional shops and away from small brokers appears […]
After a very tough May for the reverse mortgage broker business, June provided a welcome bounce that almost kept pace with retail/direct endorsements. Broker volume grew 15.2% while retail/direct grew slightly faster at 17.6% as the overall business regained some traction from May’s trough levels. Retail/direct volumes have continued to outpace broker loans, […]
May’s volume was notable for being the lowest on record for 5 years, but the difference between broker/wholesale volume and retail/direct was just as stark. For the fourth consecutive month now, brokers bore the brunt of declining volumes, down -25.8% vs. an -8.4% decline for retail. If nothing else it shows the continuing impact of […]
For the third straight month now, wholesale/broker endorsements shrank more than retail/direct endorsement volumes. In April, brokers saw 7.4% less volume while retail lenders shrank by 3.3%. Given what we already know about May’s low volume levels, we expect we’ll still be talking about declines in both business channels next month as well.
Brokers still […]
If you want to see a telling visual of our industry’s pain, check out page 1 of this month’s report. The first graph showing year over year endorsement trends shows just how tough the road has been recently for reverse mortgage professionals from a volume perspective, with a huge gap opening up between the blue […]
As we already saw in the March Retail Leaders report, the decline in HECM applications has led to a dramatic drop in endorsements just as surely as gravity accelerated Newton’s apple. While we continue to believe there is more pain to come on the endorsement side of the equation, we’re optimistic that applications […]
There’s a new sheriff in town, and that sheriff is Generation Mortgage. Ok, that may be a little extreme, but on an endorsement volume basis we saw Generation take the lead on the wholesale side of the business in February, with 831 loans endorsed during the month. This is a major improvement over where they […]
Our first report of the new year and we have a new top wholesale lender to report. After an extended run of growth in the wholesale business assisted in no small part to being early in the fixed rate product, Metlife has risen to take the top volume spot among wholesale lenders. Bank of America […]
