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April brought the obligatory drop in endorsements after the big month in March, with volume falling 6% to 5,034 units. That is still good enough for the 2nd highest volume month in the last 12 months, and 4th highest in the past 2 years.
March saw the biggest HECM volume month in quite some time, rising 21.2% from February. This month’s edition of HECM Originators gives us a little more insight into that strength:
Lenders and originators […]
HECM volume dropped -3.5% in February to continue the modest decline from the recent high water mark reached in December. What’s notable is how different the two business channels look:
HECM volume started the year off a touch below the recent high water mark from December but still well above the 2016 monthly average. We can now see that Retail has shown significantly more strength the past two months, including a 2.4% increase in January.
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:
