We’ve been talking for months now about the impending drop in HECM endorsement volumes resulting from FA, but now we know that September was the first month of that new era from the endorsements volume perspective. That makes this report our last (and highest) reading of volume pre-FA for HECM Originators.
As per usual (but unlike July), wholesale/broker volume was more volatile in August’s strong volume increase, rising 21% as compared to just 8.7% for retail/direct volume.
- Liberty saw a dramatic volume jump of 46%, endorsing 851 loans and falling just 7 short of #2 ranking for the month behind Urban
- Liberty also showed up with a strong 49.7% growth on the retail side (page 4 rankings), showing that it wasn’t just wholesale volume behind their increaseOriginators_201508
- RMS bounced back 20.9% to recover some of the volume lost in July
- One Reverse and Proficio both rose 18%, to 393 and 131 loans, respectively
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.