June Reverse Mortgage Volume Up, New Top Lender Ranks First

June saw a slight uptick in Home Equity Conversion Mortgage (HECM) endorsements and a new No. 1 reverse mortgage lender for the last 12 months, according to Reverse Market Insight’s HECM Lenders June 2013 report.

HECM endorsements were up 0.4% to 5,372 loans in June, which RMI notes as finishing 3.6% above the June 2012 level. 

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Source: Reverse Market Insight

While the increase through June was minimal, seven of the 10 regions tracked in the report posted volume growth for reverse mortgage endorsements.

As for the top-ranked lenders for the trailing 12 months, consolidating volume for the merger of Security One Lending with RMS  resulted in a new number one lender for RMI’s report, as the company’s 264 endorsements in June added to a twelve month total of 6,662.

Liberty Home Equity Solutions followed in at a close second, endorsing 296 loans in June for a twelve-month total of 6,417.

One Reverse Mortgage and American Advisors Group currently hold down a tight race for third place among RMI’s top lenders report, coming in at 5,144 and 5,006 loans, respectively.

View the RMI report.

Written by Jason Oliva

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  • The increase was just 20 endorsements over June 2012 or less than 1 endorsement per state nationally for all lenders. We are heading into a period where few Standard fixed rate HECMs await endorsement and will definitely see a significant downturn in endorsement numbers before November.

  • hecm fixed rate loans were required to close by July 1, 2013…..It will take 60 days to “endorse” the last of the Fixed Rate Standard Lump Sum pipeline.

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