HECM endorsements declined modestly in November after a big rise in October, split almost evenly across business channels. Retail originations declined slightly more, down -9.8%, than wholesale/broker volumes at -8.2%.
Lender volatility was a little more significant although still relatively muted as 9 of the top 10 declined on the month.
- Live Well was the lone exception, growing 20.9% compared to October (top of page 2 using the link below) and showing even stronger 36.4% growth in their retail/direct originations (page 4 of the linked report).
- High Tech Lending grew 116.7% to 78 loans on the month, putting the company in sight of last year’s endorsement total (down just -9.3% YTD on retail)
- Open Mortgage rose 78.1% over October
Don’t forget to check out the rankings on page 3 (trailing twelve months with channel splits) and page 4 (single month retail only). If your company is not an FHA approved lender, these are the only industry rankings where you’ll appear!
Click the image below to access the full report.