HECM endorsements dropped -10.3% in February, as Wholesale/broker volume fell -12.8% and Retail/direct was slightly better at -8.1%. Each channel and the industry overall are almost identical to their December totals.
Several lenders managed to buck the downturn though:
- Open Mortgage rose 10.6% to 219 loans
- #1 lender AAG gained 6.9% to 1,437 loans
- South River Mortgage jumped into the top 10 for the first time with a 5.2% increase to 122 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.