HECM endorsements rose 2.6% in July overall to end at 2,907 loans.
- The pickup was entirely in broker/wholesale business, which rose 12.2% after 5 consecutive monthly declines
- Last time broker/wholesale volumes were up was January – volumes in July are down -62.5% from that point
- Retail dropped -3% to 1,737 loans, down -45.5% from January
An interesting picture emerges among the top 10 lenders in making these same January comparisons:
- All lenders experienced declines, ranging from -24% to -73.2%
- One Reverse Mortgage declined the least, dropping from 296 loans in January to 225 loans in July (-24%)
- Live Well also fared significantly better than average, dropping -27.6% to 155 loans
- AAG was third in this measure, losing -37.5% to end at 825 loans
There’s a clear call center theme to that list on first glance. We’re not saying that’s a panacea for the current market conditions, but it’s an obvious similarity among these lenders that are weathering the volume decline better than their peers thus far.
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