HECM endorsements dropped -17.1% in July, with both channels falling lower together. Retail/direct lenders lost -19.0% while the Wholesale/broker channel dropped -14.7%.
- Longbridge stood out as the only top 10 lender to increase volume, rising 30.3% to 945 loans – an all time company high for this report
- H2H refinance case numbers issued dropped to 1,023 in July – from a peak of 3,848 in Aug 2021 and 3,458 just 4 months earlier
- Equity Takeout cases issued (new reverses that are neither purchase nor refinances) came in at 3,547, mostly level with the prior 3 months although again down somewhat from a recent high in March
Several originators overcame the tough sledding for most of the top 10 and industry overall:
- Premier Reverse Mortgage jumped 280% in July to 19 loans and 71 year to date
- Mortgage South of TN tripled in July to 12 loans and the #45 spot for the month
- Leader One Financial rose 180% to 14 loans and 70 YTD
If you’re still looking for ways to grow your volume outside H2H, check out growth ideas beyond refis.
Check out the full rankings on pages 3 and 4 of the full report below by clicking on the image.
