Fast Rising Reverse Mortgage Lenders
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Reverse mortgages are hot and new lenders enter the market regularly. Our previous post looked at fast growing reverse mortgage lenders, but focused on lenders that have evidenced a significant presence in the market over the last few years by averaging 25 or more HECM loans per month since Janauary 2005.
The table below, on the other hand, takes a look at fast rising lenders that did not average 25 or more loans since January 2005, but are averaging 25 or more HECM loans in the first months of 2007:
| HECM Loans Jan05- Feb07 |
26-Mo. Average | Mo. Avg. 2005 | Mo. Avg. 2006 | Mo. Avg. 2007 | % Chg 2006 vs 2005 | % Chg 2007 vs 2006 | |
|---|---|---|---|---|---|---|---|
| Lenders Averaging 25 0r More HECM Loans per Month in 2007: | |||||||
| M AND T BANK | 280 | 11 | 0 | 7 | 101 | 0.0% | 1453.8% |
| SUN VALLEY FINANCIAL OF UTAH I | 451 | 17 | 6 | 21 | 65 | 280.6% | 203.5% |
| 1ST AAA REVERSE MORTGAGE INC | 224 | 9 | 0 | 8 | 65 | 0.0% | 714.7% |
| LIVE WELL FINANCIAL INC | 256 | 10 | 0 | 13 | 52 | 0.0% | 310.5% |
| SENIORS EQUITY INCOME INC | 581 | 22 | 20 | 20 | 50 | 1.3% | 147.9% |
| AMSTAR MORTGAGE CORPORATION | 371 | 14 | 6 | 18 | 48 | 218.2% | 171.4% |
| FIRST FINANCIAL MORTGAGE CORP | 503 | 19 | 15 | 19 | 45 | 23.8% | 133.2% |
| PALADIN FINANCIAL SERVICES COR | 257 | 10 | 1 | 13 | 44 | 862.5% | 239.0% |
| WSB MORTGAGE SERVICES INC | 425 | 16 | 4 | 24 | 42 | 484.0% | 70.5% |
| SAFEWAY MORTGAGE INC | 454 | 17 | 14 | 18 | 37 | 27.5% | 108.5% |
| VALUE FINANCIAL MORTGAGE SERVI | 414 | 16 | 12 | 17 | 36 | 45.0% | 109.9% |
| ALLIED HOME MORTGAGE CAPITAL C | 431 | 17 | 6 | 24 | 33 | 293.2% | 36.1% |
| FIFTH THIRD BANK | 506 | 19 | 12 | 24 | 33 | 96.0% | 33.6% |
| TRANSLAND FINANCIAL SERVICES I | 360 | 14 | 2 | 22 | 32 | 860.7% | 40.5% |
| STAY IN HOME MORTGAGE INC | 191 | 7 | 0 | 11 | 32 | 0.0% | 195.3% |
| CONTINENTAL FUNDING CORP | 479 | 18 | 17 | 18 | 31 | 8.5% | 71.4% |
| GATEWAY FUNDING DIVERSIFIED MT | 533 | 21 | 13 | 27 | 30 | 107.8% | 10.6% |
| FEDERAL MORTGAGE AND INVESTMEN | 315 | 12 | 7 | 14 | 29 | 92.0% | 105.9% |
| ONE MORTGAGE NETWORK INC | 120 | 5 | 0 | 5 | 29 | 0.0% | 461.3% |
| ACCESS REVERSE MORTGAGE CORPOR | 254 | 10 | 0 | 16 | 29 | 0.0% | 73.6% |
| AGENCY FOR CONSUMER EQUITY MOR | 322 | 12 | 9 | 13 | 28 | 48.6% | 111.3% |
| NFM INC | 127 | 5 | 0 | 6 | 28 | 0.0% | 373.2% |
| GSF MORTGAGE CORPORATION | 447 | 17 | 15 | 18 | 28 | 20.2% | 54.2% |
| HOMESTAR MORTGAGE INC | 476 | 18 | 14 | 21 | 27 | 54.2% | 26.6% |
| AMTRUST MORTGAGE CORPORATION | 192 | 7 | 3 | 9 | 27 | 234.4% | 197.2% |
| FAST TRACK FUNDING CORP | 366 | 14 | 10 | 16 | 26 | 68.4% | 58.4% |
| AMERICAN SENIOR FUNDING CORPOR | 372 | 14 | 7 | 20 | 25 | 188.0% | 25.5% |
A Few More Related Articles of Interest:
September 12th, 2007 at 3:56 pm
Stay In-Home Mortgage:
I feel this report is misleading in that you say “in the first months of 2007″. Year todate we have averaged 60 loans (478 by 8). If your using only the first two months why not say so…very misleading. Otherwise we like your information and keep up the good work.