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We’ve been talking for months now about the impending drop in HECM endorsement volumes resulting from FA, but now we know that September was the first month of that new era from the endorsements volume perspective. That makes this report our last (and highest) reading of volume pre-FA for HECM Originators.
As per usual (but […]
HECM endorsements fell -5.1% in July, but the channel split was more interesting than usual. Wholesale/brokered volume grew marginally while Retail/direct dropped -9.3%. That’s out of character for the typical pattern in which we see wholesale as more volatile than retail, but the real test comes when endorsement volumes are likely to fall (perhaps as […]
HECM endorsements jumped 24% in June as borrowers rushed in before Financial Assessment rules would apply to their loans (all case numbers issued after April 4). This growth fueled solid gains for several top ten lenders:
HECM endorsements dropped -4.9% in May, with wholesale/brokers bearing a slightly larger share of the decline at -5.4% compared to retail/direct at -4.6%. There were some large declines for some top ten lenders, but as always there were winners too:
April marked the fourth month in a row with a split in business channel growth for the reverse mortgage industry. For April, Retail declined -6.3% and Wholesale grew 1.7%. All in a month where endorsements declined -3.1%, with declining volume also being a trend in its fourth consecutive month.
But of course, a slow decline over […]
In February, the wholesale channel increased HECM endorsements in a down month for the industry overall, and now in March’s HECM Originators reports we’ve seen the exact opposite with retail outpacing brokers dramatically. Adding the two months together it’s clear that retail got the best of the action – dropping just 102 loans from a much higher […]
HECM endorsements fell -4.5% in February, but brokers bucked the trend with an increase of 4.7% while the retail channel declined -11%.
Several lenders also rose in spite of the overall industry decline:
HECM endorsements were relatively flat across both retail (+0.2%) and wholesale (-0.5%) in January, leading to a steady overall industry volume picture. As always though, there was movement in the rankings below the headline number.
Retail led the increase in HECM endorsements for December, up 14.7% to 2,867 units compared to 12.1% rise for the industry overall. Wholesale grew somewhat slower, up 8.7% in the month.
HECM endorsements declined modestly in November after a big rise in October, split almost evenly across business channels. Retail originations declined slightly more, down -9.8%, than wholesale/broker volumes at -8.2%.
Lender volatility was a little more significant although still relatively muted as […]
