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One of the most interesting conversations going on today in the reverse mortgage arena is how much the recent product changes (reducing upfront cost to borrowers through origination fee, MIP, servicing fees, etc.) will change the size of the HECM borrower market. The easy answer is that these changes give borrowers what they’ve been requesting […]
If you want to see a telling visual of our industry’s pain, check out page 1 of this month’s report. The first graph showing year over year endorsement trends shows just how tough the road has been recently for reverse mortgage professionals from a volume perspective, with a huge gap opening up between the blue […]
As we already saw in the March Retail Leaders report, the decline in HECM applications has led to a dramatic drop in endorsements just as surely as gravity accelerated Newton’s apple. While we continue to believe there is more pain to come on the endorsement side of the equation, we’re optimistic that applications […]
As we saw last month, the downtrend in application numbers is finally starting to significantly impact endorsement numbers. That trend has continued in April, with overall industry numbers down to 5,511 units, dropping 5.3% from March.
Thankfully (if you’re among the survivors), there was an even greater decline in active lenders (down 7%) […]
We started getting word in mid February that application activity was picking up a bit after what we knew were several very depressed months following the October 1st principal limit reductions. February’s numbers did indeed show a slight bump in app volumes on the heels of a new low in January, and March has continued […]
Last month we took a close look at the Baltimore area, highlighting the good performance seen in the city and county relative to what the rest of the country is experiencing on average. This month we thought we’d take a little deeper dive into the numbers, just to see what is really driving the […]
There’s a new sheriff in town, and that sheriff is Generation Mortgage. Ok, that may be a little extreme, but on an endorsement volume basis we saw Generation take the lead on the wholesale side of the business in February, with 831 loans endorsed during the month. This is a major improvement over where they […]
HUD published the monthly endorsement numbers on Thursday, and we are finally really starting to see the effects of the lower level of application on endorsement volume. Overall industry numbers for March came in at 5,822 units, down 17% from February. For the first quarter, overall volume fell 32% versus Q1-09.
No region was spared, […]
If there’s one thing we were hoping to see these last few months, it’s an increase in application volumes back to something approaching ‘normal’. While the absolute level in February is nothing to cheer, the uptick from January’s depressed levels made quite a few of us happier than should be allowed for such a low […]
Ever wonder which city or cities you should be marketing in? This is generally one of the first questions we get asked by new lender clients when they look at our reports and start glazing over at the reams of information we put out. Not that we blame them, our primary sin is probably putting […]
