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.