Download your April 2018 Top 100 Retail HECM Lenders Report Here.
Advertisement
April Top 100 HECM Lenders Report
Advertisement
This report was compiled from data courtesy of Reverse Market Insight.
Share:
Leave a Comment
Must Read:
Advertisement
Advertisement
Advertisement
Recent Stories
Topics
What’s a reverse mortgage vacation? If you’ve never heard of such a thing Harlan Accola...
Older homeowners have a myriad of reasons for downsizing their home. Here’s Bank Rate’s guide...
Here’s what FHA Commissioner Julia Gordon had to say about the HECM program, it’s value,...
5 Comments
Ugly!
Kevin,
I am surprised by how good the April 2018 was considering how really poor demand has been. The next two months could be even lower than the endorsements for the month of April 2018.
HECMs normally take four months to go from case number assignment to endorsement. Looking at the total case number assignments for the last calendar quarter of 2017 of 9,655 and a conversion rate of 66% (higher than the current actual conversion rate), the maximum endorsements that could be produced in the last three months is 6,372 endorsements.
Shannon correctly shows the total endorsement for the last two months of 7,645 which exceeds the endorsements that the first three months of case number assignments could have generated. That means all monthly endorsements through March 2018 had a significant number of case assignments in March 2018 in particular.
It is not that Shannon and I disagree as much as RMI and I disagree from time to time and Shannon’s monthly endorsement report is based on RMI information.
It’s only going to get worse!
Top 10 Movie Quotes to Regarding the Current State of the RM Industry
10 “A man has got to know his limitations!”
9 “Hasta la vista baby!”
8 “Think you used enough dynamite there Butch?”
7 “If you’ve had enough say when.” “When!”
6 “Houston, we have a problem.”
5 “Come out to the coast, we’ll get together, have a few laughs…”
4 “You’re still here? It’s over! Go home.”
3 “For a moment there, I thought we were in real trouble”
2 “Well here’s another fine mess you’ve gotten us into!”
1 “This ship can’t sink!”
What a long strange trip it has been. My hat is off to those of you still in the fight.
I sincerely wish you all the very best!
Forward, No Longer in Reverse