July HECM endorsements rose 8% to 2,271 loans, with Wholesale/broker pushing 26.9% higher while Retail/direct dropped -2.6%. The back and forth nature of recent monthly volumes can sometimes lead to this kind of disparity, but this is the widest gap between the channels we’ve seen in a year. Given the significant declines in expected rates lately, it wouldn’t be surprising to see the wholesale/broker channel continue to react faster to that stimulating effect.
The top 10 lenders as a group underperformed that overall industry growth in July, rising just 5.5%. And just 5 of them showed increases:
- Goodlife bounced back 969% to 139 loans, matching their highest level of the past year after a slow June
- Longbridge gained 44.9% to 416 loans
- Fairway rose 21.5% to 96 loans
- Plaza was up 18.6% to 51 loans
- Guild added 5.4% to 59 loans
Check out the full rankings on pages 3 and 4 of the full report below by clicking on the image.
