Reverse Mortgage Endorsements Jump 2.6% In July 2018
Reverse mortgage endorsements have jump 2.6% with volume expect to rise over the coming months. The jump is heavily attributed to the number of wholesale endorsements that have been up steadily.
"Up from 2,833 in June, lenders endorsed a total of 2,907 loans last month," according to Reverse Mortgage Daily.
"The increase was driven entirely by wholesale endorsements, which were up 12.2% over June for the first recorded increase since January, the month when endorsements reached their post-October 2 peak. Retail numbers lagged behind with a 3% decrease."
When it comes to top performers, American Advisors Group brought in 825 endorsements which unfortunately was a bit of a decline from June 2018.
"By comparing this data with January’s, RMI made some interesting observations about the top 10 lenders," according to RMD.
"For example, all lenders experienced a decline ranging from 24% to 73.2%. Faring the best was One Reverse Mortgage, which fell from 296 loans in January to 225 endorsements in July."
To learn more about the reverse mortgage endorsement performance for July 2018, click on the image above.