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HECM endorsements rose 24% in August, and now we know that jump was powered by a jump in both Retail and Wholesale channels.
HECM endorsements dropped -6.2% in July, with Retail giving back all of the gains in June on a -7.2% decline while Wholesale posted a fifth straight month of declines, down -4.8%. Even so, several companies showed impressive growth on the month in our page 4 rankings:
HECM endorsements rose 3.4% in June to break a 3 month string of declines, with Retail leading the way. Retail/Direct increased 7.7% while Wholesale/Broker volume dropped -2% in the month.
HECM endorsements fell -14.2% in May, comprised of a -17.5% drop in the larger Retail channel and -9.6% decline in Wholesale/Broker channel.
One interesting point about the decline is that with overall industry volumes at the lowest level since August 2014, Wholesale/Broker volume has held up significantly better in the subsequent 21 months:
HECM endorsements dropped -6.3% in April overall, but Retail dropped significantly more at -7.6% compared to a Wholesale decline of -4.4%. As usual, several originators managed to buck the downtrend:
March endorsement volume was mostly flat, with Retail growing by 9/10 of a percent, and Wholesale/Broker volume down 3.88% over February.
Leading the way for the month were Live Well, up 87%, and Reverse Mortgage Funding, with growth of 28%. Of the top 10 lenders, AAG, Synergy One (RFS), and Home Point all grew in the […]
HECM endorsements growth in February was led by Retail/Direct lenders rising 20.3%, while Wholesale/Brokers put in a 14.3% increase that would be impressive in most any other month.
HECM endorsements took a disappointing dip in January to the lowest levels in over a year as the industry continued to absorb the impact of Financial Assessment changes last April. The surprise in our HECM Originators report is that almost all of this decline happened on the Retail side of the business, dropping -12.9% in […]
Now that we’ve seen January’s endorsement total we know that December didn’t signal the start of recovery quite yet for the HECM world, but we do know a little more about what happened at the end of the year.
HECM endorsements rose 5.2% in December, with both channels growing but Wholesale in particular bouncing back […]
HECM endorsements fell -7.1% in November and the wholesale/retail split diverged substantially
The disparity is even greater when comparing the […]
