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We already knew that September was a down month for endorsements in the industry overall, but now we can look at the tally in a bit more detail. We’ll talk more next week about different markets around the country in our Industry Trends report, but this week we’re focused on retail/direct vs. broker/wholesale and […]
We’re a week later than our usual schedule this month, but after seeing how wild the French Quarter was this past week (the Realtors’ convention overlapped with NRMLA’s Annual event), we’re just happy we made it back without permanent injuries! It was a great time in New Orleans and we really enjoyed catching up with […]
Thanks for all the feedback and questions about our industry forecast earlier this month. We’ve heard many different perspectives from industry participants about the recently announced HECM changes and how it affects our customers and business volumes. Forecasting is always a guessing game (hopefully an educated one) but by far the most interesting part is […]
August wholesale results are in, and as we’ve seen in past months, Retail/Direct lending in the reverse mortgage market continues to lead Wholesale/Broker volumes. Total volume for August was up 13%, with Retail/Direct up 18% and Wholesale/Broker up just 6%.
We asked last month why the volume recovery has been so narrow since May, primarily benefiting […]
September ended with a bit of a whimper, just 5,966 HECM endorsements, down -10.2% from August. For the government fiscal year, we ended at 79,096 units, down -31.1% from FY2009.
Given the changes rolling out today with the new fiscal year for HUD/HECM, we thought we’d share our volume forecast for the next 12 months (fiscal […]
Fall is just around the corner in most parts of the country, but thankfully the reverse mortgage business is still heating up after an unseasonable chill in the early summer. We’re hearing from a few clients that they’re seeing some of the best volumes they’ve seen since the principal limit reductions 10/1/2009, so we’re pretty […]
As we wind down the summer with Labor Day in the rear view mirror, it’s perhaps only fitting that the rest of the year is coming into view. If July’s numbers are any indication of what’s to come, the long rumored shift in business momentum toward large institutional shops and away from small brokers appears […]
It’s always more fun to report good news (since no one shoots the messenger in these cases!) and August continued a welcome trend higher in reverse mortgage business volumes. Endorsements were up 12.6% from July, again coming in ahead of increases in competition since the trough in May.
We also saw modest success in applications, coming […]
Another month in the rear view mirror, and we’ve officially reached the halfway point for the year. We’ve already seen a bounce in volumes from the May low and signs of life from the broker side of our industry, but who are the winners and losers among the states and metro markets around […]
After a very tough May for the reverse mortgage broker business, June provided a welcome bounce that almost kept pace with retail/direct endorsements. Broker volume grew 15.2% while retail/direct grew slightly faster at 17.6% as the overall business regained some traction from May’s trough levels. Retail/direct volumes have continued to outpace broker loans, […]
