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 […]
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 […]
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 […]
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% […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]