Category Archives: HECM Originators

The industry overall gave back its AAG exit gains and then some. But just 2 of the other top 8 lenders (excluding RMF) posted declines – quite a divergence!

• Fairway jumped 70.5% to 133 loans
• FAR gained 29.2% to 274 loans
• Open Mortgage rose 24.2% to 113 loans, their highest since September

Bank turbulence and the resulting impact on […]

HECM endorsements were up a whopping 73.3% in March, as AAG pushed through a bunch of endorsements ahead of being acquired by FAR.

Beyond AAG, 5 other top 10 lenders were up on the month:

• South River jumped 141.5% to 128 loans, their highest since August
• Open Mortgage grew 51.7% to 91 loans
• Mutual of Omaha rose 14.3% to […]
  

HECM endorsements were down -12.2% in February’s short month, with both channels dropping almost identical amounts. It’s the fourth straight month of clean sweep declines, although we already know March broke that streak.

Half of the top ten lenders were up in February despite the overall decline:

• Goodlife/TMAC followed up a strong Jan by […]
  

HECM endorsements were down -10.8% in January, as Retail/direct dropped -9.4% and Wholesale/broker declined -12.8%. It’s the third straight month of clean sweep declines, with both channels losing altitude together.

Three of the top ten lenders grew their business to start the year:

• Goodlife/TMAC jumped 73.5% to 59 loans
• Fairway rose 30% to 234 loans and their strongest […]
  

HECM endorsements overall were down -14.8% in December, with Wholesale/brokers (-14.9%) and Retail/direct (-14.8%) in virtual lock-step for the second month in a row.

Four of the top ten lenders managed to grow in spite of the industry decline:

• South River increased 10% to 77 loans
• Longbridge gained 9.3% to 492 loans, approaching AAG’s total for the month […]
  

HECM endorsements overall were down -6.6% in November, with Wholesale/brokers (-7.3%) and Retail/direct (-6%) both feeling the drop.

Just 3 of the top 10 lenders were positive on the month:

• Liberty bounced 22.1% higher to 321 loans
• Longbridge gained 2% to 450 loans as they continue to gain ground on FAR in second place
• Fairway also rose 2% to […]
  

HECM endorsements overall were relatively steady in October, rising 8.3%, after a big fall in September, but retail/direct was up 14.3% while wholesale/brokers rose a more meager 1.3%.

The top 10 lenders were mixed, with 6 rising and 4 declining.

• RMF actually led the way, growing 40.7% in a partial recovery from their September low, although their […]
  

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 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 […]
  

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 […]