HECM volumes took it on the chin in September, dropping -10.6% from August. Retail (-11.1%) and Wholesale (-9.9%) fell by similar percentages, with the drop of First National Bank of Layton from Retail due to their previously announced exit likely made the difference between the two.
Continuing the trend of companies capitalizing on lender exits, Proficio jumped from 1 unit last month to a striking 53 in September, good enough for a 9th place ranking for the month (see page 4 of the report below). Several other companies also saw big increases:
- Associated Mortgage Bankers has been coming on strong all year, growing 214% year to date. Their 12% growth this month is lower than months past, but good enough to join the top 10 in the number 8 slot.
- Nationwide Equities continues to grow retail 60+% this month and year to date. They’re growing wholesale too and rank 25th on a combined basis over the past 12 months