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October numbers are in and the month proved more trick than treat for HECM volume, down 7.4% from September. This isn’t a reflection on the demand that was pulled forward into the last week of September by the announcement of a very fast principal limit reduction implementation, as we don’t expect that surge […]
Sometimes it seems that the more things change, the more things stay the same. Despite tremendous changes underneath the surface this year (lending limits increased, HECM for purchase authorized, principal limit reductions, etc.) the top line in the reverse mortgage business is in a dead heat with last year’s results. As of September, 2009 volume […]
Our Retail Leaders report for August, 2009 is now available. Overall industry volume fell 9% from July, coming in at 8,933 units for the month, and bringing the YTD volume to 77,657.
The devil is in the details, however. If you look at the charts on Page 2, you’ll see what we mean: the number of […]
July’s endorsement data is now available. You could mire yourself in the HUD data to try to glean the nuggets of information it contains, or you can just read on and let our Retail Leaders report and commentary do it for you!
Highlights from the month:
Retail endorsement results are out for the month of June, with overall volume for the month coming in at 8,633 units – a 2.8% increase over May, but still significantly below the average for the last 12 months. Unfortunately, the relatively weak numbers for June now put the industry slightly behind 2008 volume, trailing by […]
May endorsement numbers are out, and they ain’t pretty – unit volume of 8,396 for the month dropped 28% vs April, and was the second lowest monthly number since November’s 7,771. The volume drop was across the board, as we saw lower numbers for all of the top 10 lenders, as well as declines across […]
There’s a lot to say about April, but the headlines will undoubtedly read that the industry set a second consecutive record for monthly endorsement volume, something we haven’t seen since early 2004. Total volume of 11,660 loans was up 3.5% from March and 21.9% from April 2008. YTD volume was also up 4.4% vs. ’08, […]
At long last, endorsements are finally starting to show the spike in volumes from the $417k Loan Limit increase. Endorsement volume set a new record in March at 11,261 – up 24% from February and easily besting the old record of 10,913 set in February 2008. Given the trends we have seen in […]
February is in the books, time to break out the spreadsheets and see what stories the numbers tell us. In a continuation of recent trends, competition continues to plateau, still hovering around 1,200 lenders per month as it has for 12 months now. That still leaves an increase over last year of 9% (Feb08 to […]
