HECM endorsements dropped -5.8% to 1,967 loans in May. The silver lining is that HECM case numbers issued rose to 3,481 in March (the most recent month available) – the highest level since October and substantially higher than the average in Nov-Feb (2,802/month). So maybe better monthly totals are just around the corner?
Just three of the ten regions grew HECM endorsement volume for the month:
- Mid-Atlantic rose 3% to 171 loans
- NW/Alaska gained 2.7% to 152 loans
- Southwest inched up 1% to 200 loans
Lenders did a bit better, with 4 of the top 10 rising:
- Guild bounced 54.8% to 65 loans
- Plaza jumped 26.3% to 48 loans
- South River added 7.2% to 74 loans
- And Finance of America gained 3.3% to 407 loans
As usual, the full lender rankings and volume is in the full report if you click on the image below.
