HECM endorsements rose 24% in August, and now we know that jump was powered by a jump in both Retail and Wholesale channels.
- Wholesale volume jumped 29.5% to 1,938 loans, the highest total since Sep 2015
- Retail volume increased 20% to 2,440 loans, but we only have to go back to April to find a higher total for the channel
Lenders showed even more varied performance with some standouts on both ends of the spectrum:
- RMF grew 92.3% to 696 loans on the back of a big jump in wholesale market share
- High Tech bounced back from a disappointing July, rising 71.3% to 137 loans
- FAR made it 3 top ten lenders above 50% growth, up 57.1% to 853 loans and back within shouting distance of AAG for the first time in recent memory
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!
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