Category Archives: Uncategorized

HECM Trends December 2015

This chapter brings 2015 to a close, allowing us to review the full calendar year.  Last month it was said that “if December shows a tick upward that would be the best news on the trendline this year!“…well, it happened, and there’s nothing wrong with being cautiously optimistic about the road ahead.  That said, even […]

HECM Lenders – January 2016

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 […]

HECM Trends – November 2015

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 Originators – November 2015

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 Lenders – December 2015

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.

That […]

HECM Trends October 2015

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 Lenders November 2015

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:

  • Live […]