After finishing 2021 on the highs, 2022 has started out even higher! HECM endorsements rose 10.6% to 5,771 loans in January, shifting the conversation from a possible fluke in year end volume to wondering how much farther the industry can run in the near term with very favorable home prices, low interest rates, and newfound inflation worries powering the way.
A full 9 of 10 regions were up, with last place Great Plains the sole laggard after rocketing higher last month:
- New England jumped 44.8% to 126 loans, highest in more than a year
- Mid-Atlantic grew 38% to 265 loans, again hitting recent highs
- Northwest/Alaska gained 29.3% to 750 loans and setting a stiff pace for Rocky Mountain and Southeast/Caribbean to keep their #2/#3 spots
Top 10 lenders shared the wealth a bit more, with a comparatively meager 7 increasing:
- Longbridge jumped 47.8% to 550 loans – even more impressive considering last month was a record for them too!
- RMF rose 24% to 480 loans
- HighTech zoomed 20.3% to 95 loans
If you’re wondering how you can attract more of the industry’s increasing volume, check out our HECM Neighborhood Widget to engage every visitor to your website!
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