Items Tagged with 'endorsement volume'


  • Endorsement Volume Falls, As Some Lenders Capitalize

    HECM Endorsement numbers fell in September by 3.7% as volume has bounced around the mid-5,000s five months.  As the number of active lenders seems to be tapering off, some of the biggest players seem to be getting at least a temporary lift from the big bank exits.   According to the latest HECM Lenders report from RM Insight (RMI), endorsement volume in September was 5,590, down from 5,807.  The number of lenders endorsing loans in the month hovered around 200 with only a slight decrease. Although Wells Fargo's endorsement volume as just begun to taper off, RMI suggests that
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  • Top Ten States Fight HECM Volume Trends

    As total HECM endorsement volume trends towards a decrease from 2010, seven out of the top ten states for total units are experiencing positive year-over-year growth in 2011. According to the new HECM Trends report from Reverse Market Insight (RMI), endorsement volume for HECM loans trended into positive year-over-year territory in February of this year, now has crossed back over into negative ground.  At 43,314 endorsed units through July, 2011 still remains 3.9% ahead of 2010, but the current trend suggests that the industry may be headed toward a third consecutive year of volume declines in 2011. Among the
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  • RMI Debuts New Report Format

    HECM endorsements increased by 5.4% in August over July in the new look HECM Lenders report from Reverse Market Insight. The new report replaces the previously named "Retail Leaders," examines lender volume based upon the FHA-approved lender whose name the loans were closed under.  For companies acting as sponsors for third-party originators (TPO's), this report includes loans closed on behalf of a sponsored TPO. The smaller regions of the country continue to outpace the larger regions in terms of percentage growth with the Rocky Mountain, Southwest and Great Plans nearing double digit growth.  Fueling the growth are areas such
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  • HECM Volume Struggles in July

    Signaling the start of what is likely to be a challenging second half of the year for HECM endorsement volume, total endorsements dropped by 5.9% in July.   According to the latest Retail Leaders Report from Reverse Market Insight, endorsements in July totaled 5,511.  After crossing over to year-over-year positive growth in March, the latest month fell back into negative territory at 6.6% below July of 2010. With the start of this decline, expected to continue as the wind down of Wells Fargo is felt in the tail end of the year, it appears that the industry will see
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  • Industry Trends, Different Year Similar Result

    After starting the year on an encouraging upswing, the year-over-year HECM endorsement volume has fallen into a similar trend line to the previous year. Although still head of the pace of 2010, the gap narrowed in the latest Industry Trends Report from Reverse Market Insight.  The endorsement volume reached a 12 month peak in March before falling back below 6,000 units.  Optimistically, if the trend line continued to mirror 2010, the industry would see consistent rise heading into the fall. Unfortunately, with the exits of Bank of America and Wells Fargo showing their full impact during this window, it
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  • Retail Production Crosses Threshold

    Retail endorsement volume finally crossed over into positive year-over-year growth in March, as the slow upward trend exceeded declines from March of 2010.  According to the latest Retail Leaders Report from Reverse Market Insight (RMI) March endorsements, at 7,306, increased by 24.4% from March of last year when industry volume was in steep decline.   The March volume was also an increase of 5.8% over February, even while the total number of contributing lenders decreased by 9.3%.  Accordingly, the average number of endorsements per lender jumped to nearly 11 units, the second highest level in the past two years.
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