HECM Originators – Nov 2022

HECM endorsements overall were down -6.6% in November, with Wholesale/brokers (-7.3%) and Retail/direct (-6%) both feeling the drop.

Just 3 of the top 10 lenders were positive on the month:

  • Liberty bounced 22.1% higher to 321 loans
  • Longbridge gained 2% to 450 loans as they continue to gain ground on FAR in second place
  • Fairway also rose 2% to 200 loans

Case numbers dropped yet again in November, losing -20.5% to finish at just 3,313 new cases.

  • Equity Takeout cases issued (new reverses that are neither purchase nor refinances) fell -16.9% to 2,840 – just above the 3 year low back in Jan 2021
  • H2H refinance case numbers dropped to 297 – the lowest level since March 2019
  • Purchase (H4P) dropped back to 176, as seasonality and general declines both appear to have hurt this small segment

If you’re searching for ways to turn things up as we enter 2023, check out the links below:

Check out the full rankings on pages 3 and 4 of the full report below by clicking on the image.