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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 -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
HECM endorsements grew 4.9% to 2,064 loans last month. HECM applications (as evidenced by case numbers issued) have been consistently above 3,000/month since February, so all indications point to steady
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
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