Brokers lead HECM volume jump

by Paydayloans24721 Jan 2015
Brokers are leading the rise Home Equity Conversion Mortgage (HECM), from Reverse Mortgage Insight.

October started off the fourth quarter strong for HECM endorsements, rising 28.9% to 4,851 loans. That increase was led by brokers, as the wholesale channel grew 37.3% compared to an only slightly less impressive 23.4% for the larger retail/direct channel.

On the wholesale side, Urban Financial of America continued to lead all wholesale lenders followed by Liberty and AAG, but AAG is the only one among the top three that has grown wholesale volume over the past 12 months.

Retail paints a similar picture as AAG is ranked first but again is the only one grower in the past 12 months, followed by One Reverse and RMS/S1L rounding out the top three.

“It’s rare that the same company is the top grower by volume in both retail and wholesale, an impressive feat by AAG, but it’s worth noting that two other companies also appear in the top five for both channels: Live Well and Reverse Mortgage Funding,” according to Reverse Mortgage Insight.

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