June saw a slight uptick in Home Equity Conversion Mortgage (HECM) endorsements and a new No. 1 reverse mortgage lender for the last 12 months, according to Reverse Market Insight’s HECM Lenders June 2013 report.
HECM endorsements were up 0.4% to 5,372 loans in June, which RMI notes as finishing 3.6% above the June 2012 level.
Source: Reverse Market Insight
While the increase through June was minimal, seven of the 10 regions tracked in the report posted volume growth for reverse mortgage endorsements.
As for the top-ranked lenders for the trailing 12 months, consolidating volume for the merger of Security One Lending with RMS resulted in a new number one lender for RMI’s report, as the company’s 264 endorsements in June added to a twelve month total of 6,662.
Liberty Home Equity Solutions followed in at a close second, endorsing 296 loans in June for a twelve-month total of 6,417.
One Reverse Mortgage and American Advisors Group currently hold down a tight race for third place among RMI’s top lenders report, coming in at 5,144 and 5,006 loans, respectively.
Written by Jason Oliva
