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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 […]
HECM endorsements for September totaled 3,706 loans, down 10.1% from August. The drop was felt across the nation, with 9 of 10 regions tracked seeing declines.
From a lender perspective, the entire decline can be summed within the top 10 lenders ranked on page 2:
The single most notable fact about July’s HECM endorsement figures is the volume decline. That stands out in stark relief on page 1 of HECM Trends, with the purple line tracking 2012 volume dipping dramatically to the lowest level seen in years and deviating significantly from the prior year comparison lines.
We’ve already written about the […]
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 6.6% in August to 4,122 loans, bouncing back from a level not seen in many years but still the second lowest reading in the past 12 months.
Volume was up in every region except Rocky Mountain, which dropped 1.1%. Leading the way was Southeast/Caribbean up 10.5% from July.
Among lenders, we saw Metlife […]
We’ve written before about the pockets of reverse mortgage growth in what continues to be a down market for the industry overall and this month’s HECM Trends provides another series of examples.
While California, Texas, and New York continue to outpace all states for volume, we’re starting to see unexpected places like Kansas City and Nashville […]
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 […]
Last month in this report we talked about two pleasant surprises on the volume side, which leaves us talking about a drop-off this month in HECM volume – albeit in the less hopeful of our two surprises. July saw HECM endorsements drop to 3,868 loans, down -25.4% […]
HECM Trends is the last report we put out each month, and it provides an interesting context for the rankings and national industry volume figures we focus on in HECM Lenders and HECM Originators. In last month’s edition, we illustrated how different trends look all the way […]
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 […]
