Retail Leaders – July 2009

July’s endorsement data is now available.  You could mire yourself in the HUD data to try to glean the nuggets of information it contains, or you can just read on and let our Retail Leaders report and commentary do it for you!

Highlights from the month:

  • Endorsement volume rebounded a bit from the prior two months, coming in at 9,830 units, up from 8,633 in June and 8,396 in May.
  • YTD volume is now virtually dead even with 2008 levels, at 68,724 units.  Last year we averaged just under 9,300 loans per month for Aug-Dec, so keep that in mind as we see how the rest of the year plays out.
  • 6 of the top 10 lenders saw volume impovements for the  month, including the hard hit Financial Freedom.  Nice to see a bit of a rebound there.
  • On the competitive front, there have been 2,603 active lenders thus far in 2009, an 11.5% increase over 2008.
  • Despite the overall disconnect seen in endorsement volume growth and active lender growth, we are seeing some areas where the two are more closely aligned, a stark contrast to last year, and even most of 2009:  Pacific/Hawaii (-6.6% Endorsement, -6.5% Lender), Southwest (12.9% Endorsement, 14.2% Lender), New York/New Jersey (28.1% Endorsement, 18.9% Endorsement) and Northwest/Alaska (10.5% Endorsement, 11.1% Lender).
  • While overall volume across the industry is flat, there are some high volume areas that are doing well.  While this list is based on HUD Field Offices, and is not as accurate or actionable as the Cities and Counties in our Market Opportunity Report, it’s a good place to start: San Francisco +80.4%, Los Angeles +23.5%, Portland +21.6%, New York +78.4%, Newark +12.9%, Chicago +36%, Richmond +16.8%, Denver +21%, Atlanta +25%, Greensboro +36%, San Antonio +35.7%, Dallas +16%.
  • If you want to know more specifically where in any of these metros the loans are happening, the Market Opportunity Report offers you county-level detail to find out where the loans are happening.  And if you order the Market Opportunity Report or Retail Trilogy package by Friday, we’ll even give you an excel file with monthly loan volumes at a zip code level going back to 2008.

If you haven’t yet seen our company specific version of this report, take a look today.  It will help you understand your competitive position in each of the major markets across the country.

Retail Leaders Report