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HECM endorsements rose 16.9% to 5,187 in June, partly on the back of increases from both Metlife and First National Bank of Layton, both of which have announced exits from the industry. We expect Metlife in particular to start showing significant volume declines in July and August, some of which won’t be replaced by increased […]
As the reverse mortgage industry fights through a wave of major lender exits, HECM Trends identifies bright(er) spots within the overall industry volume decline. In the theme of “location, location, location”, we’re focusing this month on zip codes with the most HECM volume year to date.
While Utah has the top zip code in the country averaging […]
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 […]
HECM endorsements were down -3.4% in May to 4,439 units, flirting with the multi-year lows we saw in March. As we’ve noted before, we do think it’s likely we’ll see lower volumes play out through the end of summer based on Metlife’s announced exit from the industry. May is an extension of weak application volumes […]
Surviving and thriving in the reverse mortgage industry these past few years has required adaptation and flexibility:
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 […]
The past few days have been dominated by Metlife’s exit announcement, but regardless of how you feel about that news the impact on industry numbers simply hasn’t been felt yet. We mean that in the best possible way, as April endorsements rose 4.9% to 4,595 loans after the horrible, no good, very bad month in […]
Our monthly HECM Trends report is a chance to step away from a lender/originator perspective and look more closely at the places where HECM is performing well. Last month we showed how […]
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 […]
We said last month that we didn’t expect endorsement volumes to continue their good times given the declines in case number assignments and this month underlined the point. March endorsements totaled 4,381 loans, down -19.3% and the lowest level since September 2005.
This marks […]
