Category Archives: HECM Originators

HECM endorsements grew 12.7% in April, with strong Wholesale growth (+21.2%) outpacing slower Retail results (+6.6%) but both contributing to a solid month of volume.

Seven of the top 10 lenders gained on the month as they collectively outpaced the overall industry:

• Liberty jumped 66.4% to its highest level since March 2018
• Synergy One grew 19.7% on 164 […]
  

HECM endorsements declined in March without the tailwind from loans built up during the government shutdown. The decline was fairly balanced, with Retail dropping -36.1% while Wholesale shed -35.1%.

All of the top 10 lenders dropped, so let’s dig further to see smaller originators that overcame the industry decline:

• The Federal Savings Bank jumped 366.7% to 14 […]
  

HECM endorsements jumped 142.6% to 4,000 loans in February, as the backlog in endorsements from a partial government shutdown was completed.

• Retail grew 131.8% to 2,343 loans and 58.6% of the industry
• Wholesale increased 159.7% to 1,657 loans

Several lenders enjoyed banner performances:

• Finance of America soared 806% to 725 loans
• One Reverse leaped 376% to 352 loans
• Fairway grew 239% […]
  

HECM endorsements dropped -5.7% to 1,649 loans in January, which we already discussed extensively.

• Retail declined -6%, coming close to dropping below 1,000 loans for the month
• Wholesale did better, giving up -5.3% to end at 638 loans

Thankfully we already know that February was significantly better, so we can avoid the worst pangs of depression […]

HECM endorsements dropped -31.4% to 1,749 loans in December, marking a very troubling low point to end the year.

• Retail plunged -29.4% to 1,075 loans, just over 1/3 of the January 2018 figure
• Wholesale declined even farther, losing -34.4% to finish at just 674 loans

The carnage was widespread, as each of the top 10 lenders dropped on […]

HECM endorsements increased 7.4% to 3,087 loans in October, recovering most of the loss in the prior month.

• Retail led the way, gaining 7.9% to 1,829 loans
• Wholesale posted a smaller 6.7% rise to 1,258 loans

Eight of the top ten lenders saw increased volume on the month:

• One Reverse paced the field, jumping 24.7% to 247 loans
• Synergy One […]
  

HECM endorsements dropped -9.9% to 2,874 loans in September, narrowly missing out on a new monthly low from the product changes one year earlier.

• The decline was broad based, with very little difference between Retail (-9.8%) and Wholesale (-10.1%)
• That said, Retail did set a new low at 1,695 loans which might suggest less of an interest in […]
  

HECM endorsements rose 9.8% in August overall to end at 3,191 loans.

• The pickup was balanced across Retail and Wholesale, up 8.2% and 12.1%, respectively
• We have to look back to January for the last time both channels were up, which is also the peak of loans endorsed under the pre-Oct 2017 rules

The top 10 lenders had […]

HECM endorsements rose 2.6% in July overall to end at 2,907 loans.

• The pickup was entirely in broker/wholesale business, which rose 12.2% after 5 consecutive monthly declines
• Last time broker/wholesale volumes were up was January – volumes in July are down -62.5% from that point
• Retail dropped -3% to 1,737 loans, down -45.5% from January

An interesting picture emerges […]

If you’re looking for our usual HECM Originators report, click the image at bottom to skip straight to the report.

Earlier this month we looked at how recent case number assignment trends compare to prior HECM product changes by FHA. In it, we concluded that even though case numbers issued is at a thoroughly depressing level […]