HECM endorsements grew 1.1% in July to 4,256 loans, lending further credibility to the increased volume levels since initial pandemic slowdowns in endorsement processing for March-April were overcome.
Six of the ten regions around the country grew in the month:
- New England paced the pack, rising 11.2% to 109 loans
- Southeast/Caribbean jumped 9.3% to 751 loans
- Great Plains gained 8.1% to 67 loans
Among lenders, 5 of the top 10 posted increased for the month:
- Longbridge more than doubled, up 105.2% to 199 loans and their highest total in over a year
- Open Mortgage surged 39% to 139 loans
- RMF rose 9.1% to 406 loans
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