And now it’s clear that we’re in a post 10/2 world for HECM endorsements. Volume declined -17.3% to 4,300 loans in March, the lowest level since July. It will get worse before it gets better.
Eight of the top ten regions declined, with Pacific/Hawaii suffering the most – a level of symmetry given the region saw the largest gains in the endorsement surge of the past few months.
Lenders fared a bit better, with 3 of the top 10 registering gains:
- Live Well gained 34.7% to 167 loans
- Nationwide Equities rose 34% to 63 loans
- One Reverse inched up 3.2% to 261 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.