It’s been quite the hiatus since we last published this report! We depend on HUD/FHA for this data so we can’t promise the normal schedule will resume, but we’ve been assured things should be more regular with this data going forward.
HECM endorsements rose 2.7% to 2,184 loans in April, with Wholesale/broker inching up 2% while Retail/direct added 3.2%.
HECM case numbers issued fell off quite a bit after the unexpected spike in October, with Nov-Feb hovering right around/below 3,000 per month. March saw significant improvement (+16% from Nov-Feb average) and April rose 11.4% further to 3,780:
- Equity Takeout rose 9.5% to 3,056
- Purchase gained 10.5% to 179
- Refis jumped 23.9% to 545
The top 10 lenders generally showed stronger performance than the industry overall, with 8 of 10 adding volume on the month:
- Atlantic Avenue jumped into the top 10 at #9, jumping 37.3% to 70 loans
- South River added 19.7% to 79 loans
- Goodlife/TMAC rose 13.3% to 111 loans
Check out the full rankings on pages 3 and 4 of the full report below by clicking on the image.
