Top HECM Lenders in 2007

Below you will find the top HECM lenders in 2007 through the month of August.  Also be sure to check out the sample report which breaks down the top lenders even more at the bottom.

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A few other interesting notes from Reverse Market Insight:

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  • 1,348 separate originators have endorsed at least one loan in the year to date period, an interesting stat to quantifying the depth of market.  There are certainly cases where lenders use multiple FHA lender id numbers and names which would distort this figure a bit, but we would expect that even with this impact there are still more than 1,000 retail originators in the marketplace year to date.
  • For every 6 lenders joining the business there is another 1 leaving (104 lenders have left YTD).  Again, there is a bit of error factor here if lenders simply consolidated their endorsements under one FHA registration.
  • New lenders averaged about 10 loans endorsed YTD vs. a little under 8 loans averaged last year to date by originators leaving the business.
  • Lender and volume distribution by growth rate shows that there is a wide divergence in growth rate among lenders, with small players in some cases showing dramatic growth.
    • For example, 95 lenders grew in excess of 400% over last year, with the group responsible for over 7,000 loans year to date after only doing 636 last year
    • 9% of endorsements year to date were originated by lenders growing in excess of 400%
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  • The top 10 lenders as a share of the total market are shrinking substantially.  Last year the top 10 lenders accounted for 55.5% of all endorsements, but this year that figure is just 44.3%.  New entrants and smaller lenders are broadening the market in this growth stage rather than an increasing concentration of business at the top lenders that we’re seeing in the mature traditional ‘forward’ mortgage market.

 August RMI HECM Report Sample 

“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/

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