April 4, 2017
HECM endorsements gained 21% to 5,364 loans in March, marking the second highest total seen in the last 3+ years. We’d guess that the majority of gains are from endorsement timing issues since the FHA application volume hasn’t seen these kinds of gains in recent months. That said, there are still some interesting nuggets to be found in this month’s report:
- All but one region grew volume in March, led by the Pacific/Hawaii group (+250 units). The lone laggard was the New England region, down 1 loan from February.
- Similarly, all but one of the top 10 lenders notched higher volume in March, with Nationwide Equities (+93%), Finance of America (+79%), and Liberty (+43%) leading the way.
- AAG improved further on its industry leading volume, rising 9.7% to 1,167 loans, which marks their 9th largest volume month ever.
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.