HECM endorsements took a disappointing dip in January to the lowest levels in over a year as the industry continued to absorb the impact of Financial Assessment changes last April. The surprise in our HECM Originators report is that almost all of this decline happened on the Retail side of the business, dropping -12.9% in January while Wholesale dropped just -0.9%.
Just 2 of the top 10 lenders posted gains in the month:
- Liberty HES showed a huge 285% jump in what looks like a catching up of endorsements from the prior two months
- Home Point grew 8.6% to 114 loans
- Synergy One is poised to break into our top ten on page 2, showing an eye-watering growth rate from last January on our page 4 originator rankings
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.