Below you will find the top HECM lenders through November in 2008. Be sure to check out the sample report which breaks down the top lenders even more at the bottom.
- With the calendar year quickly approaching a close, YTD volume is up 5.1% while the number of active lenders has increased 80.3%.
- Total November endorsements of 7,771 were down 23.2% from October, and at their lowest level since September, 2007. While wide month-to-month swings in endorsements are not uncommon due to occasional back office bottlenecks, it is notable that eight of the top ten lenders’ November endorsements were materially below their prior three month average. And the volume of the non-top-ten was also down, off 17% from the prior three month average.
- While endorsements were down, the number of lenders endorsing their first loan in November fell to its lowest level in a year. While new lenders continue to enter, they are doing so at a slower rate.
- The top 10 lenders share of total endorsements came in at 37.2%, slightly below the 37.9% over the prior twelve months.
- The disparity between growing and shrinking regions continues. The sharpest gains YTD are in the Southwest, up 26.9%, followed by Rocky Mountain up 21.9%, and the Southeast up 20.5%. On the flip side, Pacific/Hawaii (read California) is down 16.1%, New England is down 13.1% (all but Maine) and New York/New Jersey is down 2.3%.
The report below includes new endorsements per lender and new lenders per month charts.
November 2008 MIC Report Sample
“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“
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