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“Cash is king”
“He who has the gold makes the rules”
These two well-worn sayings accurately capture the current state of the reverse mortgage industry, as both warehouse lines and secondary market liquidity continue to be under pressure for the reverse mortgage corner of the market. In many ways this seems entirely
HECM endorsements dropped a further -6.7% to 1,790 loans in September, the lowest total since April 2020. Last month we were wondering if decent case number issuance might pull the
HECM endorsements dropped -5.7% to 1,919 loans in August, the lowest total since February. We don’t have application data (HECM cases issued) beyond June yet, but we did see an
HECM endorsements dropped -1.5% to 2,034 loans last month, although the lender count dropped considerably more (-10.3%). HECM applications dipped slightly under 3,000/month in June, the first time we’ve seen
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