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Tides Recede – HECM Originators April 2022

HECM endorsements eased down -3.7% in April after a recent high in March, with lenders pulling back more than brokers on the month. Retail/direct lenders dropped -5% while the Wholesale/broker channel declined just -2%.

While we don’t currently publish proprietary volume numbers, there was no shortage of anecdotes at the NRMLA West conference last month that a significant share of volume is shifting to proprietary in the current environment…

Even with the overall decline, 6 of the top 10 lenders grew to buck the trend:

  • Fairway continues to show the strength of its focus on new reverse customers (rather than refinances), jumping 15.2% to 304 loans – an all time high for the company
  • Open Mortgage gained 12.6% to 241 loans – also an all time high for the company!
  • Hightech Lending rose 7.1% to 121 loans

It’s not too late to 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.