Below you will find the top HECM lenders through September in 2008. Be sure to check out the sample report which breaks down the top lenders even more at the bottom.
- HECM endorsements came in at 9,494 units for the month of September, up just under 2% over August and 23% over the same period last year, bringing the YTD industry total up to 87,523.
- Top 10 lenders contributed 3,993 units for the month, or 42% of total industry volume, thanks in part to solid monthly growth from Wells Fargo, and Bank of America and Countrywide.
- Through September, 2626 lenders have been active in the reverse mortgage industry for the year, a growth rate of 87% over last year.
- While its nothing to get excited over yet, we are seeing what looks like the beginning of a downward trend in the number of new lenders entering the reverse space.
- Regionally, the Southeast continues to be the class of the field with over 25% of the total endorsements for the year.
The report below includes new endorsements per lender and new lenders per month charts.
“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“