HECM endorsements dropped -15.4% to 2,257 loans in November. We haven’t seen any case number issuance data since August, but it’s a fair bet that recent high 10 year CMT rates have significantly affected that leading indicator and behind the endorsement volume weakness.
The geographic mix was just one region away from a universal downturn:
- New England was the sole region to gain volume, rising 15.3% to 98 loans
The top 10 lenders had a little better month, with 4 of the top 9 inching up:
- Fairway jumped 33.7% to 111 loans
- Guild added 9.4% to 58 loans
- Liberty managed a 2.6% increase to 120 loans
- Longbridge rose 2.1% to 242 loans
Click the image below for the full report.
