June 2018 Top 100 HECM Lenders Report

Download your June 2018 Top 100 Retail HECM Lenders Report Here.

This report was compiled from data courtesy of Reverse Market Insight.

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2 Comments

James E. Veale, CPA, MBT
July 2, 2018 at 12:22 pm
This is a 521 (or 15.5%) endorsement loss in June 2018 from May 2018. Based on case number assignments and the current conversion rate that comes as no surprise.

It was worrisome over the last few weeks to have seen some of the most respected industry statisticians claiming that April 2018 was the bottom to endorsements in the post 10/2/2018 era. That was based on the skimpy 14 endorsement (or 0.4%) improvement of May 2018 over April 2018.

The latest count is also 41.3% lower than endorsements for the month of June 2017. It is the lowest such monthly count since May 2005, over 13 years ago. It is not yet clear if we will see even lower endorsement counts in July and/or August. Since the CNA (Case Number Assignment) count for May 2018 has not yet been posted by HUD, it is too early to forecast what the endorsement count for September 2018 or thereafter will look like.

In fact the total endorsements for the quarter ended June 30, 2018 was the lowest endorsement count for any three consecutive month period since December 2013, some 14 years ago. The June 2018 count is the lowest for any June since June 2003, 15 years ago.

Looking at the report itself there is much to discuss but time will not permit. 2,838 endorsements for June 2018 is hard to swallow but nonetheless that is in fact where we are.
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Tracy Flam
July 2, 2018 at 12:27 pm
What’s going on with RMF’s new Equity Edge product? It was supposed to be unveiled July 1, 2018 but I haven’t seen or read anything about it. Care to share any information?
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