Below you will find the top HECM lenders through February in 2008. Also be sure to check out the sample report which breaks down the top lenders even more at the bottom.
- HECM endorsed loans continued to grow again in February with 10,913 units, up 9.6% from last month’s endorsements of 9,957.
- Top 10 lender share continues to decline, coming in at 38% of the total HECM endorsements for February.
- Countrywide continued it’s strong growth by leap frogging World bank and landing in the number three spot for the month. It’ll be interesting to see if this is an anomaly and due to a backlog of endorsements or if its sustainable. If it is sustainable, they’ll soon be challenging Financial Freedom for the 2nd spot on the list…
- First Mariner made a big splash with their first trip into the top ten, landing in the number seven spot with an astounding 146% increase over last month. Again, it remains to be seen if this is a trend for them.
- The Southeast/Caribbean stayed on top and increased 33% over the same period last year. Former #1 performer Pacific/Hawaii stayed in second, despite declining 2.9% vs last year (but up 10% over last month).
“Market statistics and report sample provided by Reverse Market Insight, the leading source of market intelligence in the reverse mortgage industry. For more information about RMI and to purchase the full MIC report with additional key performance indicators and market statistics, please visit our website at www.rminsight.net“