June 1, 2012
HECM endorsements were down -3.4% in May to 4,439 units, flirting with the multi-year lows we saw in March. As we’ve noted before, we do think it’s likely we’ll see lower volumes play out through the end of summer based on Metlife’s announced exit from the industry. May is an extension of weak application volumes earlier this year rather than reflecting any impact from the Metlife exit.
We’re making this a short write-up as we head out the door on a Friday, so please click the image below for the full report.