HECM endorsements dropped -4.6% in October, but in a reversal from September the Wholesale/broker channel declined much more than Retail/direct, dropping -9.1% compared to just -1% for the latter.
Just two of the top ten lenders gained on the month:
- Mutual of Omaha Mortgage gained 7.2%, endorsing 238 loans
- RMF inched up 2.9% to 389 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!
- Our friend and longtime client Dave over at Green Monarch Mortgage jumped 433% in October and is showing 250% growth year to date! Way to go! 🙂
See the full report below by clicking on the image.