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HECM Originators – Apr 2023

The industry overall gave back its AAG exit gains and then some. But just 2 of the other top 8 lenders (excluding RMF) posted declines – quite a divergence!

  • Fairway jumped 70.5% to 133 loans
  • FAR gained 29.2% to 274 loans
  • Open Mortgage rose 24.2% to 113 loans, their highest since September

Bank turbulence and the resulting impact on loan pricing broke the 3 month growth streak for case numbers issued, as volume fell -18.4% in April. Recent increases in the 10 year CMT index are likely to further steepen the hill to climb for new originations, so we’ll continue to watch closely.

  • Equity Takeout cases issued (new reverses that are neither purchase nor refinances) dropped -20.3% to 2,712
  • Purchase (H4P) dropped -23% to 157
  • H2H refinance case numbers dropped -2% to 432

If you’re searching for ways to turn things up in 2023, check out the links below:

Check out the full rankings on pages 3 and 4 of the full report below by clicking on the image.