REVERSE MORTGAGE INFORMATION: Tools, News and Resources to Help Seniors Decide

HECM Lender Comparison 10/31/2007 vs 10/31/2006

Written by admin on Wednesday, November 7th, 2007 in HECM.

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In a prior post we examined evolution of the HECM market over the past two years (ended 10/31/06 and 10/31/07) focusing on the geographic location of HUD home equity conversion mortgage endorsements. The table below examines the evolution of lenders’ HECM market shares and growth over the same time frame.

Some observations:

  • Market share among the “top 50″ lenders has shrunk from 73.2% to 63.1%. Most of this shrinkage is explained by the drop in market share experienced by Wells Fargo (rom 30% to 21%).
  • Seven of this year’s Top 10 lenders were also in the Top 10 one year ago. Three new members of the Top 10 (Vertical Lend, Omni home Financing, and Urban Financial all had HECM activity growth in excess of 100% during this period.
  • BNY Mortgage saw HECM activity fall 22.7% and its Top 10 ranking go from #5 to #8 despite being the originator of the HECM 100 which was very popular earlier this year.

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    Death of the HECM 100?

    Written by admin on Wednesday, August 22nd, 2007 in HECM 100, Reverse Mortage.

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    As the sub prime mortgage mess has unfolded over the last few months, reverse mortgages have gotten some positive press about being outside the fray and largely unaffected by the turmoil.

    No more.

    In the last week, several lenders and brokers have ceased origination of the new and popular HECM 100 reverse mortgages (more…)

    Article Series - hecm100

    1. HECM 100: A Sign of Things to Come?
    2. HECM Competition and Innovation Continues
    3. HECM 100 vs HECM +100
    4. Low Margin HECMs Become the New Standard
    5. HECM Mortgage Borrower: Choice May Be Harmful to Your Financial Health
    6. Death of the HECM 100?
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