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 […]
Looks like the coast might not be clear quite yet in the wake of Financial Assessment. HECM endorsements fell -8.1% to 3,890 loans in January after a small December increase. That puts FA impact at -32.3% decline from the (admittedly somewhat artificially inflated) August high volume level.
Of course, that didn’t stop some regions and lenders from […]
Refinances have been a hot topic in the reverse world lately, with NRMLA issuing updated guidelines and HMBS investors asking more questions about the higher prepays than they might have expected when paying significant premiums for new pools. In November, 11% of all HECM endorsements were refinances – a figure which has changed significantly over time […]
HECM endorsements fell -7.1% in November and the wholesale/retail split diverged substantially
- Wholesale dropped -18.3%, marking the third month in a row of faster declines than Retail as the industry dropped in the wake of Financial Assessment implementation
- Retail posted 1.6% growth to bounce off the low levels from October
The disparity is even greater when comparing the […]
HECM endorsements rose 5.2% in December to 4,233 loans after three consecutive months of decline. That’s encouraging although based on the data we’re seeing from lenders participating in the industry data repository, fundings have been mostly flat for the past three months so it’s hard to imagine any significant endorsement uptrend in the immediate future.
It’s pretty eerie how closely the volume trend line for 2015 has followed 2013 over the past 3 months – see the top of page 1 of this month’s HECM Trends report below by clicking the image. That won’t hold up for November’s volume, but if December shows a tick upward that would be the best […]
HECM endorsements fell for a second consecutive month in October and once again, wholesale declined faster than retail, dropping -8.6% compared to -6.3%, respectively. As always, there were standouts even in a down month and this month it was lenders bouncing back from a tough September:
- Cherry Creek set a brisk pace, rising 34.8% to 62 […]
HECM endorsements dropped -7.1% in November to 4,023 loans defying (for now) our prediction from a few months back that we’d see volume below 4,000 loans in a month due to financial assessment. We’re happy to be wrong and we’ll be happier when we see these numbers start to rise again!
A few notable performances stood out:
HECM endorsements dropped considerably in September, but remained above 2013 and 2014 levels for the same month. Thanks to the past 4 months industry volume is running 13% ahead of last year’s first 9 months, but the tough comparisons are ahead: just as volume picked up in Q4 last year, this year we’re expecting […]
Happy Thanksgiving to everyone in every corner of the reverse mortgage industry! Hope everyone has fantastic feasts with family and friends.
September HECM endorsements dropped -18.8%, but as we typically see in volatile months for volume wholesale moved quite a bit more, dropping -26.2% compared to retail’s -11.6%. As usual though some companies bucked the trend.