HECM endorsements dropped again in May, down -3.6% to 4,854 loans. This was a smaller drop than April and paints a picture of gradual decline from the March high.
For context, it’s also above any other month from September 2015 through February 2017 so still a step above where the industry has been since financial assessment was implemented.
On that note, on to the details:
- We again saw just 2 of the 10 regions increase in volume, with Southwest rising 7.8% and Rocky Mountain up 0.5%
- Live Well jumped 29.3% to 172 loans and their best showing since September
- Nationwide Equities grew 19.8% to 115 loans
- Synergy One climbed 7.4% to 246 loans
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.