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HECM endorsements ended on a high note to close out 2016, up 19.9% to the highest level all year. That growth might have been fueled by some year end clean up, but growth is welcome from just about anywhere these days.
HECM endorsements dropped slightly in November to 3,884 loans, as we learned last month. We now know that Retail/direct lenders dropped a more substantial -4.3% while Wholesale/broker volume actually rose 3.7%.
A few companies underlined this point with rising retail volume on our page 4 rankings:
We already knew HECM endorsements rose slightly in October, but now we know that growth came entirely from brokers on the wholesale side.
This month we’re focusing on the page 4 originator rankings, with several […]
HECM endorsements reversed course in September, dropping 14.6% from August levels.
All of the lenders highlighted last month had volume declines in the double digit percentages, suggesting most of the […]
HECM endorsements rose 24% in August, and now we know that jump was powered by a jump in both Retail and Wholesale channels.
HECM endorsements dropped -6.2% in July, with Retail giving back all of the gains in June on a -7.2% decline while Wholesale posted a fifth straight month of declines, down -4.8%. Even so, several companies showed impressive growth on the month in our page 4 rankings:
HECM endorsements rose 3.4% in June to break a 3 month string of declines, with Retail leading the way. Retail/Direct increased 7.7% while Wholesale/Broker volume dropped -2% in the month.
HECM endorsements fell -14.2% in May, comprised of a -17.5% drop in the larger Retail channel and -9.6% decline in Wholesale/Broker channel.
One interesting point about the decline is that with overall industry volumes at the lowest level since August 2014, Wholesale/Broker volume has held up significantly better in the subsequent 21 months:
HECM endorsements dropped -6.3% in April overall, but Retail dropped significantly more at -7.6% compared to a Wholesale decline of -4.4%. As usual, several originators managed to buck the downtrend:
March endorsement volume was mostly flat, with Retail growing by 9/10 of a percent, and Wholesale/Broker volume down 3.88% over February.
Leading the way for the month were Live Well, up 87%, and Reverse Mortgage Funding, with growth of 28%. Of the top 10 lenders, AAG, Synergy One (RFS), and Home Point all grew in the […]
