HECM endorsements declined -9.1% in November to 4,410 loans but retained most of the big gains from October. Given this somewhat expected pullback we’re not expecting 2014 to exceed 2012’s calendar year total of 52,993 as that would take a December volume of 5,181 loans which would be the highest so far this year and seems unlikely although not totally out of reach.
Most of the top 10 lenders declined, except these three who bucked the trend:
- Maverick Funding jumped 25% to 115 loans and their largest total in the past 12 months, although RMF’s rise helped push them down from #8 last month to #10
- Live Well grew 11.2% to 119 loans and also set a new high for their past 12 months
- Liberty Home Equity was flat at 314 loans to retain the #4 ranking
Check out pages 3-4 for metro areas with more loans this year in spite of the national decline.
If your company is FHA approved check out the rankings on page 5 of the report below. If your company is not FHA approved, watch out for our next edition of HECM Originators to find your ranking!
Click the image below for the full report.
