We wrote in a previous report of our surprise at January’s 19.7% increase in HECM endorsements, now we know that it was primarily wholesale channel loans powering that surge. Wholesale volume rose 39% in January, compared to a 7.5% increase on retail/direct endorsements from December.
Many of the top 10 lenders turned in impressive numbers for the month as well:
- Security One/RMS jumped 43.7% to 1,145 loans – the first time since August we’ve seen any lender over 1,000 loans
- Urban rose 70.1% for their highest monthly total since July
- Generation almost doubled, up 97.4% to 381, also their highest since July
Don’t forget to check out the rankings on page 3 (trailing twelve months with channel splits) and page 4 (single month retail only). If your company is not an FHA approved lender, these are the only industry rankings where you’ll appear!
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