HECM endorsements are running 16.1% ahead of last year’s first five months, which is easy to see from the trendline on page 1 of our HECM Trends report.
- That 16.1% growth figure is up from 12.5% as of April, mostly because the industry took a big swing south in May 2016
- The five month total of 24,237 loans is also higher than 2015 and 2014 (and 2012 for that matter), which leaves 2013 and the volume levels last seen before both initial draw limitations and financial assessment were enacted
Refinances do remain high relative to historical levels at 15% in May and there was considerable growth in the number of active originating companies from a year ago (+23.8%).
It’s fair to say the industry’s origination volume is healthier than it’s been in several years, but still less than half the peak volumes of almost a decade ago.
Find out where else HECMs are growing in our full report by clicking the image below.