HECM endorsements increased 3.4% to 2,420 loans in September, continuing a second consecutive month of low production levels. The last time volume was lower than Aug-Sep was during the lingering effects of a partial government shutdown in January.
The regions were mixed, with 4 reporting gains and 6 declining:
- Mid-Atlantic rose 17.4% to 169 loans
- Northwest/Alaska grew 12.6% to 223 loans
- Pacific/Hawaii increased 11.3% to 791 loans
5 of the top 10 (excluding Live Well) were up too:
- Liberty recovered most of the way from a drop in August, gaining 110.4% to 101 loans
- AAG rose 18.4% to 791 loans
- Longbridge followed a solid gain in August to post its highest recent total, jumping 16.2% to 79 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.
