Download your May Top 100 Retail HECM Lenders Report Here.
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Some substantial movement in rankings was seen in last month’s endorsement numbers. See what your competition is doing and where your lender ranks.
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May Top 100 Retail HECM Lenders Report
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5 Comments
Thanks for the top 100 as always!
This is a list of those companies who have weathered the storm, and appear to have the gumption to stay in our beloved business.
Thank you Brien. We appreciate your support. It has been the season of consolidation and adaption for lender survival indeed.
We need to be careful about our conclusions.
In the last two plus years, we have seen at least seven different companies claim the positions of the top two in our industry. There have been Wells Fargo, Bank of America, MetLife, Security One Lending, Genworth, Liberty, and Walter Investment Management Corporation (the new owner of RMS and Security One). Only the last two entities are still in the industry and both only came into the industry since 2013.
This kind of changeover is not unusual for our industry. It was amazing how long Wells Fargo stayed in our industry. Bank of America has been in and out and then in and our again. MetLife was a short timer in all respects.
The Top One Hundred leaves out TPOs, several of whom have had a relatively long history in the industry. Many of the top 100 lenders are relatively new to the industry.
Like other industries where turnover is common, it is not always the companies you see a lot of musical chairs when it comes to management and administrative and sales staff. It will be interesting to see which major player in the top ten leaves our industry next.
Once again I should add that the opinions expressed in my comment are not necessary those of RMS or its affiliates.
Shannon,
Thank you for keeping us always informed. I agree with Brien, the companies that have stayed will benefit and are rising to the top.
The big banks who just saw this as a “niche” product are gone. I have always been a “glass half full’ person. Looking forward not backwards.