Now that we’ve seen January’s endorsement total we know that December didn’t signal the start of recovery quite yet for the HECM world, but we do know a little more about what happened at the end of the year.
HECM endorsements rose 5.2% in December, with both channels growing but Wholesale in particular bouncing back (+9.8%) from a miserable November. Retail took a bit steadier tack, rising 2.3% after posting 1.6% in the prior month.
Per usual, some lenders stood out:
- Home Point Financial rose 40% to 105 loans
- RMS jumped 35.8% to 501 loans – good enough for third place on the month and their highest monthly total since August
- Cherry Creek improved 25.4% to 74 loans and finish the year in our #10 spot
On a retail only basis, a few other originators stood out in our page 4 rankings:
- FirstBank grew 69% to claim the ninth ranking for the month
- Open Mortgage jumped 53% to peak into the top 10
- ReverseMortgages.com showed an impressive second month in our rankings, up 500% to 18 loans
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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