May Top 100 Retail HECM Lenders Report

Download your May Top 100 Retail HECM Lenders Report Here.

[ad#Urban Financial Group]
Some substantial movement in rankings was seen in last month’s endorsement numbers. See what your competition is doing and where your lender ranks.

Editor in Chief: HECMWorld.com

As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.

Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.

Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.

5 Comments

Brien J Brandenburg
June 3, 2013 at 3:36 pm
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.
- Reply
- Link
- Shannon HicksModerator
  June 3, 2013 at 3:43 pm
  Thank you Brien. We appreciate your support. It has been the season of consolidation and adaption for lender survival indeed.
  
  Reply
  Link
James E. Veale, CPA, MBT
June 3, 2013 at 7:34 pm
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.
- Reply
- Link
- James E. Veale, CPA, MBT
  June 3, 2013 at 7:35 pm
  Once again I should add that the opinions expressed in my comment are not necessary those of RMS or its affiliates.
  
  Reply
  Link
Mike Hopson
June 5, 2013 at 7:25 am
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.
- Reply
- Link