HECM endorsements declined -9.7% in April, but it was a tale of two business channels as retail/direct volume was flat but wholesale/broker volume declined -19.9%. We’ve seen this pattern of greater volatility on the broker side of the business over the years, but even so it’s rare to have the gap this wide.
- American Advisors Group was the biggest winner for April, with a number one overall ranking (page 2) for the trailing twelve months but also a strong increase in retail volume to 997 loans for just April (page 4).
- Illustrating just how much volume has been reduced across the industy following last year’s FHA policy changes, it only took 6 loans for the month of April to break into the top 100 originators nationwide. One year ago it took 8 loans and 5 years ago it took 15.
Don’t forget to check out the rankings on page 3 (trailing twelve months with channel splits) and page 4 (single month retail only). If your company is not an FHA approved lender, these are the only industry rankings where you’ll appear!
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