HECM endorsements fell -4.4% in June to finish at 4,160 loans, extending the industry’s current streak to 7 consecutive months above the 4,000 loan level.
Just 3 of the regions we track increased volume and it was mostly the smaller volume areas:
- Last place Great Plains gained 22.7% to 54 loans
- Second to lowest New England rose 15.5% to 97 loans
- Finally, third ranked Rocky Mountain grew 9.3% to 495 loans
Lenders also had a rough go, with 3 of the top 10 posting gains:
- Mutual Of Omaha Mortgage jumped 43.1% to 332 loans and their highest volume since 2017 HECM PLF change (January 2018 endorsements)
- Hightech Lending rose 10.5% to 95 loans
- Longbridge increased 9.4% to 163 loans
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