HECM endorsements dropped -6% in August, capping 4 consecutive months of 4,000+ loans for the first time in several years. Wholesale declined -6.5% while Retail was slightly better at -5.6%.
Four of the top ten lenders gained on the month:
- Longbridge again jumped highest, adding 31% to finish with 499 loans
- Open Mortgage gained 28.8% to 179 loans
- Mutual of Omaha increased 15% with 246 loans
Check out the originator rankings on page 4 to see more companies outside the top 10 doubling or tripling their reverse volume this year!
See the full report below by clicking on the image.