HECM endorsements declined -5.9% in August to 4,007 loans, as reverse mortgage volume continues to be strong in the pandemic era.
Four of the ten regions around the country added volume in the month:
- Midwest rose 13.6% to 242 loans
- New England increased 10.1% to 120 loans
- NY/NJ and Great Plains grew 4.8% and 1.5%, respectively
Among lenders, 4 of the top 10 showed increases:
- Longbridge continued its hot streak, posting a second consecutive monthly volume record by rising 38.2% to 275 loans – 4th most in the month despite ranking 8th over the past year
- Open Mortgage jumped 28.1% to 178 loans
- Mutual of Omaha Mortgage rose 15.5% to 246 loans
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