Below you will find the top HECM lenders through July in 2008. Be sure to check out the sample report which breaks down the top lenders even more at the bottom.
- Overall endorsement volume for August came in at 9,310 units, down 1.8% from the previous month, and bringing the year-to-date endorsement number up to 78,029.
- YTD volume is up 2.8% vs. the first eight months of last year, compared with 39.3% growth last year at the same time.
- The top 10 lenders continue to see declining market share through their retail channels, collectively generating just 37.3% of total endorsements vs. 44.6% in 2007 and 55.5% in 2006.
- Southeast continues on a tear this year, generating over 25% of total industry volume while Pacific/Hawaii has declined under 20% share. We are starting to see some weakness in Florida, however, that suggests the Southeast pace won’t be sustained much longer. The number of new lenders is consistently outpacing endorsement growth which inevitably leads to declining profitability and margins that constrain market growth, much as we’ve already seen in California.
- Active lender counts overall continue to grow at a much faster rate than unit volume — 86% active lender growth vs 2.8% endorsement growth YTD.
The report below includes new endorsements per lender and new lenders per month charts.
“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“
