Below you will find the top HECM lenders through May in 2008. Be sure to check out the sample report which breaks down the top lenders even more at the bottom.
- Industry volume for May came in at 9,112 units, down from 9,564 endorsements in April.
- Of this, the top 10 lenders contributed 4,047 units, or just over 44% of the industry volume for the month. This is a marked increase over previous months, and is due in large part to a resurgence by Wells Fargo. We suspect this was a catch up month for Wells in getting endorsements issued, and they’ll probably fall back to their norms.
- We continue to see steady gains out of World Alliance Financial and Bank of America, with both companies putting in their strongest numbers to date in the last month.
- Our industry continues to get more competitive: On the active lender front, we have just bumped over the 2,000 mark for the year, almost double where we were at a year ago.
- Five months into the year, the Southeast/Caribbean region maintains the top spot by a healthy margin, but we’re also getting a strong showing in the Southwest and Rocky Mountain regions, at least in terms of growth. These last two areas are the only regions currently growing at a rate north of 20%.
- Diving deeper into the Pacific/Hawaii region (which has declined 10% over last year), we see that the drop is entirely attributable to California. Every field office within CA showed a decline over the same period last year (California as a whole is down just north of 17%) while the rest have had increasing activity (up almost 10% overall everywhere else).
“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“