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Slow Erosion – HECM Originators March 2022

HECM endorsements set a recent record in March by rising 26.4% to 6,495 loans, but we’re digging a bit deeper today:

  • Wholesale/broker led the way, rising 28% to 2,765 loans
  • Retail/direct growth trailed slightly, increasing 25.2% to 3,730
  • Refis slipped another point to 48.3% of all loans in March, a second consecutive month of slight drops – and that’s before the increases of the past few months in the all important 10 year CMT have fully baked in…

A full 8 of the top 10 lenders contributed to the recent record by growing themselves:

  • FAR rocketed 48.9% to 992 loans after a bit of a downer in Feb
  • Fairway jumped 38.9% to 264 loans and a new company record
  • Liberty also gained 32% to 590 loans

A few originators are up strongly YTD as the refi wave rolls on:

  • Allied First Bank is up 733% from last year with 25 loans in Q1
  • Goodlife bolstered its already impressive growth from last year, now at 491% with 136 loans
  • Premium Security posted 231% growth YTD

If you’re heading to NRMLA West, reach out and schedule some time with us to discuss how you can grow this year no matter which way refis go!

Or if you want to learn more about how we can help, 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.