HECM endorsements dropped -5.6% in June, lending further support to the idea that 2,500 endorsements per month is the default volume setting for the industry right now. Some regions looked better than others:
- New England jumped 23.9% to 109 loans
- Northwest/Alaska grew 16.5% to 212 loans, despite Seattle and Portland both being down more than 40% from last year
- Pacific/Hawaii increased 7.2% to 791 loans
Three of the top ten lenders bucked the trend with solid performances on the month:
- High Tech Lending leaped 68.6% to 59 loans
- Fairway rose 40% to 98 loans
- FAR grew 21.6% to 214 loans to round out the first half of 2019
If your company is FHA approved check out the rankings on page 5 of the report below. If your company is not FHA approved, watch out for our next edition of HECM Originators to find your ranking!
Click the image below for the full report.