Tag Archives: Wells Fargo

RM Insights 2011 Totals

7 Feb

 Final 2011 rankings were posted for both retail/broker/TPO originators and wholesalers.  Overall endorsements were down -1.8% from November, with the entire decline coming from the TPO/Wholesale side of the industry turning in a -4.4% performance.

Their year end chart focused on the theme of Wells/BofA/FF exits in 2011.

Case numbers issued dipped in December to the lowest level since January 2010, but if we exclude the impact of Wells/BofA/FF it tells a different story. December’s total is right between May and June figures for surviving lenders, raising the question whether higher volumes from Aug-Nov were just the result of applications shifting from the exiting lenders in a one time surge. It would be much more positive for the industry if survivors fill the distribution gaps left by exiting lenders over the next few months and generate higher application volumes.

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21 Jul
Logo of the Federal Housing Administration.

Image via Wikipedia

There was a 17% increase in HECM applications in June,, according to the latest from the Federal Housing Administration. housing outlook.    For the HECM Saver, There were 542 FHA endorsements in June, up 43% over May’s 365 Saver endorsements.

The HECM for Purchase also gained in June, recording 146 endorsements, up from 96 in May.  June 2010 showed 101 HECM purchase loans.

So far Fiscal Year 2011 has seen 72,718 HECM applications.  June’s increase in applications might be the last of the Wells Fargo loans going in.