HECM endorsements ended the year with a bang, but now we know that Wholesale/brokers led the way by rising 28% to Retail/direct channel’s 15.2% growth on the month.
To put the channels into context, Retail is actually 12.2% above its average from Jan-Nov whereas even with the great finish Wholesale was slightly lower at 10.9% of Jan-Nov average.
As we saw in our HECM Lenders report for December, some of the same lenders showed huge gains for the month:
- Longbridge jumped 105.8% to 321 loans – a slight drop from their 154.7% rise in HECM Lenders that excludes principal/agent volume. Still leading the growth amongst all lenders!
- Open Mortgage grew 105.3% in a tight race, finishing with 232 loans
- RMF gained 62.9% to 536 loans
Check out the originator rankings on page 4 to see more companies outside the top 10 doubling or tripling their reverse volume this year!
- And don’t forget to check out the newest sponsor of these free reports, Ennkar Inc! They grew their reverse business 201.9% in 2020 to finish the year as the 9th largest HECM originator (page 4) and #11 overall without any wholesale loans. They’re hiring so check them out if you’re looking to be part of their growth in 2021.
See the full report below by clicking on the image.