Below you will find the top HECM lenders for 2008. Be sure to check out the sample report which breaks down the top lenders even more at the bottom.
Some highlights for the year:
- Overall unit volume of 115,176, up 6.4% from 2007 volume
- Almost 3000 lenders endorsed a loan in 2008, a 76.5% increase over the prior year
- Market share for the top 10 lenders ended the year at 37.85%, a decline of just over 8% from 2007 share.
- 6 of the top 10 lenders experienced volume declines in 2008.
- Strong performance from Bank of America and Countrywide vaulted them to the number 3 and 4 rankings, respectively. Combined, they would be solidly in the 2nd spot behind perennial number 1, Wells Fargo.
- The Southeast/Caribbean region finished out the year in the top spot, capturing 25% of the industry volume.
- Three regions had endorsement growth greater than 20% in the year: Southeast/Caribbean, Southwest, and Rocky Mountain.
- New England and Pacific/Hawaii regions were the biggest laggards, each declining over 10% vs 2007.
The report below includes new endorsements per lender and new lenders per month charts.
December 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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