New expert services for Servicing Oversight and Portfolio/Asset Management. Learn More.
HECM endorsements dropped in July -12% in July, with Retail taking the heavier hit at -13.6% and Wholesale declining -10.4%.
HECM endorsements declined -0.3% in June, but Retail/direct grew 0.8% to 2,530 loans while Wholesale/broker dropped -1.6%.
5 of the top 10 lenders grew their volume despite the small industry decline, with a huge spread between the top and bottom results:
HECM endorsements declined -3.6% in May, continuing to slowly recede following the spike in March. After holding up better in April the Wholesale segment accounted for much of May’s decline, dropping -6.7% compared to Retail/direct at just -0.6%.
We also saw several big lenders rising in the month, with 7 of the top 10 posting gains:
April brought the obligatory drop in endorsements after the big month in March, with volume falling 6% to 5,034 units. That is still good enough for the 2nd highest volume month in the last 12 months, and 4th highest in the past 2 years.
March saw the biggest HECM volume month in quite some time, rising 21.2% from February. This month’s edition of HECM Originators gives us a little more insight into that strength:
Lenders and originators […]
HECM volume dropped -3.5% in February to continue the modest decline from the recent high water mark reached in December. What’s notable is how different the two business channels look:
HECM volume started the year off a touch below the recent high water mark from December but still well above the 2016 monthly average. We can now see that Retail has shown significantly more strength the past two months, including a 2.4% increase in January.
HECM endorsements ended on a high note to close out 2016, up 19.9% to the highest level all year. That growth might have been fueled by some year end clean up, but growth is welcome from just about anywhere these days.
HECM endorsements dropped slightly in November to 3,884 loans, as we learned last month. We now know that Retail/direct lenders dropped a more substantial -4.3% while Wholesale/broker volume actually rose 3.7%.
A few companies underlined this point with rising retail volume on our page 4 rankings:
We already knew HECM endorsements rose slightly in October, but now we know that growth came entirely from brokers on the wholesale side.
This month we’re focusing on the page 4 originator rankings, with several […]
