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November 2013 Top 100 Retail HECM Lenders

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Download your November Top 100 Retail HECM Lenders Report Here.

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See how your company & your competitors’ overall HECM endorsements were for the month of November.

 

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6 Comments

  1. Are the number of closed loans reported for lenders such as AAG just their retail closings or do they include both retail and wholesale production?

    • This report only includes retail HECM endorsements. RMI (Reverse Market Insight) does have a wholesale report which you can obtain from their site (www.rminsight.net). Thanks again!

      • Shannon,

        I thought this is a combined report by lender and includes all retail and wholesale for each lender. I was not aware that this report includes TPO activities; I do not believe it does.

        • The data provided by RMI is for the retail channel and does not include TPO data as HUD does not have TPO numbers until later. I would contact RMI for further clarification of their data points.

          • To put it another way, the HUD (and RMI) report excludes TPO information but totals to the total endorsements for the month. That means that endorsements for each lender includes those each lender has generated as a result of their direct consumer sales and also through their wholesale operations. I hope that helps.

  2. While a lot of smaller lenders and TPOs brag about their growth this year, it is the top two leaders whose numbers are rather remarkable. It is rare for any industry which has only grown by something less than 15% to see its top two leaders both grow by well over 80% especially in a year when the industry’s most popular (and profitable) product is eliminated, i.e., the consolidation of fixed rate Standards into fixed rate Savers.

    The top 100 lender list shows for most lenders, 2013 was once again the year of the lender. But like 2012, it is the not so much a significant growth in industry volume which resulted but rather a shift in the market share of the lenders who stayed in the industry.

    While 2013 will be a year in endorsement growth, 2014 will most likely be a year in endorsement decline from endorsement totals for 2013 and perhaps even 2012. But the real struggle for lenders this year will not be endorsements but rather revenues. Lower PLFs and a limitation of first year disbursements will both prove hard to overcome; the effect of both of these may be somewhat offset by the return of origination fees.

    For most 2014 will be the year of significantly lower revenues.

    What is surprising about 2013 is how many lenders have lost ground. For example, both Generation and Sun West saw their endorsement totals drop significantly. If their revenues drop significantly this year as expected, they could be really hurt.


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