In February, the wholesale channel increased HECM endorsements in a down month for the industry overall, and now in March’s HECM Originators reports we’ve seen the exact opposite with retail outpacing brokers dramatically. Adding the two months together it’s clear that retail got the best of the action – dropping just 102 loans from a much higher volume base while wholesale dropped 200 loans for an almost 10% decline for Feb/Mar.
Several lenders beat the trend and increased their volume:
- Liberty jumped 38% to 620 loans and their highest levels in over a year – good enough for second place in the rankings for the month on a combined retail/wholesale basis
- Proficio grew 15.5% to 119 loans after a slow month in February that was below their twelve month average
- AAG grew just under 1% to continue their reign at the top of the chart, almost doubling the nearest rival
- On the single month chart (page 4), Moneyhouse jumped 358% to join the top 10 for the first time
Don’t forget to check out the rankings on page 3 (trailing twelve months with channel splits) and page 4 (single month retail only). If your company is not an FHA approved lender, these are the only industry rankings where you’ll appear!
Click the image below to access the full report.