The 10/2/2017 FHA HECM product changes brought a surge of case numbers in September and now have brought a brilliant spike of endorsements to start 2018. January endorsements rose 32.5% to 6,313 loans, the highest monthly volume since March 2011!
We’ll see next month if that’s the peak endorsement month for this latest product change, but we already know subsequent volume will be greatly reduced given the much lower application and case numbers issued figures after September.
Meantime, let’s see how regions and lenders fared in this tidal rush of volume:
- Northwest/Alaska produced the biggest percentage gain for the month, rising 86.9% to 613 loans
- Pacific/Hawaii was already the largest volume region and grew 56.1% to almost double the second place SE/Caribbean on the month at 2,047 loans
- Liberty rose the most among our top 10 rankings, tripling to 576 loans
- Nationwide Equities had a dramatic 76% increase to 132 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.