HECM endorsements reversed course in September, dropping 14.6% from August levels.
- Wholesale volume declined 21.6% to 1,519 loans, coming back down to levels seen in May – July.
- Retail volume dropped at a slower pace, falling 9.1% month over month to 2,219 loans.
All of the lenders highlighted last month had volume declines in the double digit percentages, suggesting most of the August gains were due to endorsement backlogs getting cleared out.
Don’t forget to check out the rankings on page 3 (trailing twelve months with channel splits) and page 4 (single month retail only). If your company is not an FHA approved lender, these are the only industry rankings where you’ll appear!
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