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HECM endorsements fell -2.4% to 2,147 loans in September, with Retail/direct growing 1.5% but Wholesale/broker more than offsetting that with a drop of -7.9%.
HECM case numbers issued were a bit rosier, rising 0.5% to 3,703, but under the surface the gains were entirely in the very rate dependent refinance segment. Given the strong bounce higher […]
HECM endorsements fell -3.2% to 2,199 loans in August, with Wholesale/broker giving back -6.6% and Retail/direct easing just -0.6%.
The top 10 lenders showed better, collectively rising 0.6% as 4 of the 10 managed gains on the month:
July HECM endorsements rose 8% to 2,271 loans, with Wholesale/broker pushing 26.9% higher while Retail/direct dropped -2.6%. The back and forth nature of recent monthly volumes can sometimes lead to this kind of disparity, but this is the widest gap between the channels we’ve seen in a year. Given the significant declines in expected rates […]
June HECM endorsements dropped -14.6% to 2,102 loans, with Retail/direct losing -8.8% while Wholesale/broker sank -23.1%. And while we know that July endorsements were a bit more positive, the gloomy note for June continues when we look at case numbers issued:
May was a positive month for HECM endorsements, with an increase of 17% to 2,460 loans. Wholesale/broker rebounded from 2 declining months even as the industry rose, rising 27%, while Retail/direct continued a slower, steadier path by increasing 11.1%.
When we look at the month over month endorsement on page 2 of our report, we had 5 […]
HECM endorsements continued their upward trend in April with 2,103 loans for a modest increase of 2.2% from March. Retail/direct continued their dominance in April with 7.5% endorsement growth while Wholesale/broker continued their decline dropping -5.7% from March.
When we look at the month over month endorsement on page 4 of our report, we had 6 of […]
HECM endorsements dropped -4.2% in March, with the channel performance completely flipping from last month. Retail/direct bounced back 9% while Wholesale/broker dropped -2.3%.
The largest originators again outpaced the industry overall, as our page 4 ranking report shows 11 of the top 15 retail originators for the month growing >9%.
On a combined basis for lenders including […]
HECM endorsements dropped -8.3% in February, but that masked a slight improvement in Wholesale/broker volumes (+3.9%) as Retail/direct sank -15.7%.
While the shortest month of the year rarely provides great insight for the rest of the year to come, our page 4 ranking report offers some clues as to how the downturn has affected different companies […]
HECM endorsements started the year slowly, but Retail/direct volume suffered disproportionately (dropping -3.7%) while Wholesale/brokers actually gained ground, rising 2% in the month. That’s mildly interesting given the lag time for endorsements, but case numbers issued in January rose to their highest level since October in a much more important signal that reverse is looking […]
Our last report for 2023 is here! We already knew 2023 endorsements dropped -48.1% from 2022 as higher interest rates drove refinances to near zero and reduced the appeal of even non-refinances to new customers.
The additional context we’re adding today is that Retail/direct held up better at -43.4% for the year while Wholesale/broker dropped a […]
