Category Archives: HECM Lenders

Bounce Back – HECM Lenders September 2021

HECM endorsements bounced back 17.6% to 4,326 loans, with vacation season over and even the latest government shutdown averted (for now).

The regions were almost uniformly higher, with a decline in NY/NJ preventing a clean sweep:

  • Midwest leaped 50.3% to 242 loans
  • Southeast/Caribbean grew 24% to 646 loans
  • Mid-Atlantic added 20.5% to finish at 200 loans

Lenders were almost as […]

Dog Days – HECM Lenders Aug 2021

HECM endorsements dropped -14.3% to 3,679 loans, as it felt like everyone caught up on 2 years of vacation this summer. The drop is a bit concerning given the industry had been above 4,000 loans for 8 consecutive months, but it remains to be seen if this will be a momentary endorsement blip.

The regions were […]

Fashionably Late – HECM Lenders July 2021

HECM endorsements rose 3.2% in July to 4,293 loans, in a slightly delayed release due to system updates at HUD.

While we again saw only 3 of the 10 regions increase volume, all 3 were in the top 5 volume regions and that made all the difference:

  • Pacific/Hawaii jumped 11.2% to 1,643 loans – almost 1,000 loans […]

Smaller Stories – June 2021

HECM endorsements fell -4.4% in June to finish at 4,160 loans, extending the industry’s current streak to 7 consecutive months above the 4,000 loan level.

Just 3 of the regions we track increased volume and it was mostly the smaller volume areas:

  • Last place Great Plains gained 22.7% to 54 loans
  • Second to lowest New England rose 15.5% […]

Winners Run – HECM Lenders May 2021

HECM endorsements grew 3.9% in May, finishing at 4,350 loans.

There’s a saying in the stock market that traders should let winning positions “run,” or continue to perform for you. This month we saw a parallel in the HECM market, as 6 of the 10 regions increased volume on the month and they were 6 of […]

Steady State – HECM Lenders April 2021

HECM endorsements dropped -0.8% in April, finishing at 4,187 loans.

With such a small decline nationally it was a bit surprising to have just 3 of the 10 regions we track show growth:

  • Southwest had a banner month, popping 53.6% to 341 loans to fully recover from a disastrous March
  • New York/New Jersey rose 16.1% to 187 loans
  • Great […]

More Days – HECM Lenders March 2021

HECM endorsements inched up in March, rising 3.8% to 4,220 loans.

Growth was found in several regions, including the largest region rising to a new recent high:

  • New England added 31.4% to finish with 113 loans, with HECM volume rising almost as much as Patriots free agency spending levels!
  • Mid-Atlantic grew 20.5% to 235 loans
  • Pacific/Hawaii rose 11.9% to […]

Short Month Blues – HECM Lenders February 2021

HECM endorsements eased off a bit from January’s level, falling -10.4% to 4,066 loans. Part of this is due to a shorter month with only 19 working days. For comparison, February 2020 was down -13.6% from January 2020.

Regions around the country didn’t have any good news to offset the top level decline either, with only […]

Hello New Year – HECM Lenders January 2021

HECM endorsements started the new year with a bang, rising 10.8% to 4,539 loans. That’s the highest since the surge in May as endorsements caught up from the COVID-remote working transition lull in March and April. Quite the positive start for the year!

For the second straight month we saw 8 of the 10 regions increase […]

Goodbye 2020 – HECM Lenders December 2020

HECM endorsements finished 2020 well, rising 15.1% to 4,097 loans.

It was quite the roller coaster for everyone last year and the reverse mortgage industry was no different.

  • We ended less than 5% changed from the monthly volume in January
  • April saw just 1,601 loans endorsed (-59%!) as the pandemic impacted operations at lenders and HUD processing centers
  • May […]