Reverse mortgage endorsement volume for February came in at 7,024 units, down 7.9% from January according to data from Reverse Market Insight. Through the first two months of 2010, endorsement units totaled 14,653, 22.7% lower than last year’s volume.
Below is a list of the top reverse mortgage lenders through February 2010. Be sure to take a look at the commentary and report which goes into more detail below.
Other highlights from the month:
- The number of lenders with an endorsement during the year has hit 1,311, a 19.1% decrease from 2009
- The all-important “Endorsements/Lender” metric picked up a bit after dropping significantly in August. Given the shakeout of smaller brokers and marginal volume contributors, the continuing low volume of new lenders entering the industry is leading to healthier volume for the remaining companies.
- Top 10 lenders share of volume for 2010 stands at 43.8%, up from the prior year and in keeping with fewer active lenders in the market
“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“