HECM endorsements fell -2.4% to 2,147 loans in September, with Retail/direct growing 1.5% but Wholesale/broker more than offsetting that with a drop of -7.9%.
HECM case numbers issued were a bit rosier, rising 0.5% to 3,703, but under the surface the gains were entirely in the very rate dependent refinance segment. Given the strong bounce higher on the 10 year CMT rate recently, case numbers could be headed lower again soon.
The top 10 lenders showed widely varied results and collectively underperformed the overall industry, but 6 of the 10 did rise higher:
- South River leaped 88.2% to 96 loans
- Hightech jumped 62.2% to 60 loans
- Goodlife added 12.3% to 91 loans
Check out the full rankings on pages 3 and 4 of the full report below by clicking on the image.
