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May endorsement numbers are out, and they ain’t pretty – unit volume of 8,396 for the month dropped 28% vs April, and was the second lowest monthly number since November’s 7,771. The volume drop was across the board, as we saw lower numbers for all of the top 10 lenders, as well as declines across […]
April’s Industry Trends report is finally out, a bit later than normal, but still chock full of interesting statistics. Two record months in a row of endorsements has moved the reverse mortgage industry from a negative 1% relative performance to a +4.5% increase over YTD volume last year. While it’s not a large increase, we […]
Our Wholesale Leader’s Report is now up for April. Recent trends are continuing, as retail endorsement growth once again came in stronger than the wholesale channel (+9.9% for Retail, -3.1% for Wholesale).
April’s wholesale numbers showed the impact of the JB Nutter warehouse line issues, and it hit their business hard as wholesale endorsement volume fell […]
We periodically receive questions about various HECM rate types and how prevalent they are in the marketplace. One of the specific questions we’ve seen resurrected lately has to do with fixed rate HECMs and just how much market share they have in the reverse mortgage industry.
The short answer is that it’s a surprisingly small amount […]
If you haven’t seen the recent Obama budget request for $800 million for the HECM program, the basics have been covered well over at RMD. What you might still be wondering though, is what does it really mean and how can the numbers possibly be that large. We’ll tackle […]
Our industry has seen quite a few margin increases in the past year or more, such that even with historically low index rates the higher margins are starting to reduce upfront funds available to seniors. We’re all aware of the consumer impacts, but what may be less intuitive is that margin increases […]
There’s a lot to say about April, but the headlines will undoubtedly read that the industry set a second consecutive record for monthly endorsement volume, something we haven’t seen since early 2004. Total volume of 11,660 loans was up 3.5% from March and 21.9% from April 2008. YTD volume was also up 4.4% vs. ’08, […]
It struck me the other day that we don’t talk nearly enough about applications here, especially since most of the endorsement information we do talk about is generally 1-3 months delayed from funding. We’ll certainly correct that and look for ways to put more application information in our reports, but the truth is that there […]
We’ve already talked extensively about the volume increase in March, so check out the Retail Leaders and Industry Trends posts if you’d like to see more on top line volume. Something we haven’t talked about a lot yet, however, is how Wholesale is trending.
Many of you might have already […]
A record endorsement month in March has generated lots of excitement in the industry, so let’s get below the headline and see where the profitable stories are to be found. Year to date volume is just about even with last year’s pace at this time (down 1%), but that masks a flat January, weak February […]
