Below is a list of the top HECM lenders through June 2009. Be sure to check out the commentary and link below which goes into more detail.
- Total endorsement volume for June came in at 8,633 units, up slightly from May, but still well below the average of the last 12 months.
- The relatively low volume in June brought the Year-To-Date number to 58,894 endorsements, leaving the industry trailing last year’s volume by .6%.
- Top 10 lenders continue to take market share, holding on to 44% of the volume. 8 of the top 10 lenders have increased volume over last year.
- On the competitive front, 2,461 lenders have endorsed a loan in 2009, up 289 vs the same period in 2008.
- Regionally, strong growth in the New York/New Jersey, Southwest, Rocky Mountain, and Northwest regions almost offset the weakness everywhere else (with particular emphasis on the largest regions of Southeast and Pacific).
- We even have endorsement growth outpacing lender growth in the New York/New Jersey region (24.2% and 19.3%, respectively), something that hasn’t been seen very often in the last few years.
- Financial Freedom saw a huge drop in endorsement volume, though we suspect this is due to name change/transition issues more than actual volume numbers, and we’ll see them back up to normalized numbers in the next month or two.
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