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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 […]
August HECM endorsements bounced back up 7.1% from what we now know was only the first exceedingly low volume month in Q3. We also see that the bounce was entirely in the Retail/direct channel of the business, whereas Wholesale/TPO business was essentially flat from July to August.
Looking […]
In our HECM Lenders report about July’s volumes, we noted that Metlife’s exit seemed to work through the endorsement numbers faster than Wells and BofA last year. The new information to report here is that both Wholesale/brokered and Retail/direct endorsements were down strongly(-27.8% and -24%, respectively), […]
HECM endorsements were up significantly in June to 5,182 loans, 17.1% higher than May. We speculated in last month’s HECM Lenders report about the possibility of Metlife pushing to close and insure as many loans as possible before their 6/30 exit date from the industry (for […]
We’ll keep it short and sweet today with just a few highlights from the May HECM Originators report:
Be sure to check out the rankings to see where your company (or your closest competitor) finished for the past 12 months […]
HECM endorsements rose 5% in April, with the increase roughly similar across both retail/direct and TPO/wholesale channels. These aggregate numbers don’t show a significant spread between the channels, but as always there is a lot of movement among individual companies in the rankings.
On page 4 of the report below, we find 4 of the top […]
March was the lowest month in recent memory for HECM endorsements, down -19.3% to 4,374 loans. We have to go all the way back to September of 2005 to find a month with lower volume.
Broker/TPO channel business declined dramatically, dropping -26.6% compared to -12.8% for retail/direct. This relative performance gap has swung both ways in […]
February HECM endorsements grew 5% while case numbers issued shrank, but what we discover in this month’s HECM Originators report is that third party originators (TPOs) brokering to wholesale lenders were responsible for all the growth (+15.1%) while direct lenders with retail operations shrank in the month (-2.7%).
This is the second month in a row […]
“Why doesn’t FHA list my company in their volume rankings anymore?”
More and more people have been asking where they can find rankings of broker/TPO companies now that FHA no longer includes these originators in the F17 report the first of each month. The answer is in our HECM Originators report, which shows both year […]
December’s HECM Originators report brings us final 2011 rankings for both retail/broker/TPO originators and wholesalers, as well as the best view yet of how monthly rankings will fare in the brave new world post Wells and BofA (combined volume in single digits for December).
Overall endorsements were down -1.8% from November, with the entire decline coming […]
