February 2024 Top 100 HECM Lenders Report

by Shannon Hicks
| 2 Comments
| March 1, 2024

⬇︎WATCH THE VIDEO SUMMARY BELOW ⬇︎
Download this month’s report [pdf]
View Annual Historical HECM Endorsements

Editor in Chief: HECMWorld.com

As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.

Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.

Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.

2 Comments

James E. Veale, MBT
March 2, 2024 at 4:29 pm
For those who have not heard, calendar year 2023 HECM endorsements were so bad that this total now stands as the worst total for HECM endorsements in 20 calendar years. In fact, the total was even worse than the worst HECM endorsement total for any fiscal year in the last 20 years.
.
Yet little holds a candle to the HECM endorsement total for February 2024. Only the two months that HUD shut down tts offices for a portion of two consecutive months due to the fear of COVID has any month had a worse endorsement total in almost 21 years.
- Reply
- Link
The Critic
March 2, 2024 at 4:40 pm
Another disappointing year for H4P.
.
H4P has once again proven its value to the industry. For the first time since 2014, H4P failed to reach 2,000 endorsements for a full calendar year.
.
Now with a few (futile) tweaks we are hearing how the so called sleeping giant of the reverse mortgage industry is now ready to demonstrate its prowess. It would be nice if for once we got the evidence before hearing what we are supposed to believe about H4P first.
.
15 years ago we heard how H4P endorsements would match HECM endorsements from all other sources within a decade (I am being generous). I just hope that total HECM endorsements from Traditional and Refinanced HECMs stop trying to match H4P endorsement production.
.
I doubt if the current tweaks will have the chance to make a substantial change in the H4P endorsement count for fiscal year 2024 so let us see if in fiscal year 2025 H4P has a substantially greater percentage increase in HECM endorsements than that same percentage for all other HECMs. Of course, the endorsement results for fiscal year 2025 could be worse than either fiscal year 2023 or fiscal year 2024. (The same kind of statements were made about H4P growing substantially due to the futile changes implemented in Mortgagee Letter 2013-33 and look at what has happened to H4P endorsements since — not much.)
- Reply
- Link