HECM endorsements were up a whopping 73.3% in March, as AAG pushed through a bunch of endorsements ahead of being acquired by FAR.
Beyond AAG, 5 other top 10 lenders were up on the month:
- South River jumped 141.5% to 128 loans, their highest since August
- Open Mortgage grew 51.7% to 91 loans
- Mutual of Omaha rose 14.3% to 481 loans
Case numbers rose for a third straight month, up 13.7% to 4,044. That’s still less than half the recent peak in March 2022, but a very healthy sign. More importantly, the growth came from new customers!
- Equity Takeout cases issued (new reverses that are neither purchase nor refinances) rose 20.7% to 3,406
- Purchase (H4P) dropped -5% to 202
- H2H refinance case numbers dropped -16.5% to 436
If you’re searching for ways to turn things up in 2023, check out the links below:
- Leave rate sheet busywork behind with our Pricing Platform
- Find new reverse customers with the higher lending limits
- Add qualified borrowers to your prospect list!
Check out the full rankings on pages 3 and 4 of the full report below by clicking on the image.