Below you will find the top HECM lenders in 2007 through the month of September. Also be sure to check out the sample report which breaks down the top lenders even more at the bottom.
Highlights from the report:
- 8,417 HECMs endorsed in October, up from last month but still slightly below the average of the last 12 months and 4.2% below last year’s October total.
- This is the first year over year decline in monthly endorsements since July 2005. Due in large part to the weak year over year performance in October, industry YTD growth rate fell from 35.7% last month to 30.7%
- The weakness was due in large part to the top 10 lenders, who as a group are down over 20% from last October.
- As you can see from the table below, all the endorsement growth in October came from new lenders joining the industry rather than existing lenders increasing volumes.
- YTD total of 92,010, officially surpassing last year’s full year total of 85,608 by 7.5%.
- Market concentration as measured by the top 10 lenders’ collective market share stayed even with last month’s figure of 43.9% after falling for
several months in a row.
“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“