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Happy New Year! Hope everybody had an opportunity to spend some time family and friends over the holidays.
The industry ended the year with a little bang on the endorsement front. Volume was up almost 20% from the prior month at 4,658 loans, the highest level for the year, bringing the 2016 total to 48,794. Unfortunately […]
HECM endorsements declined -0.7% in November, continuing to bump along below 4,000 loans per month as has been the case for much of the year.
HECM endorsements rose 4.8% in October, continuing the up and down gyrations as we head into year end. Active lenders grew 6.6% in the month, with a net increase of 12 companies endorsing at least one loan in the month.
As might be expected with such a minor volume increase, the story was mixed when you dive […]
HECM endorsements declined -14.7% in September, making the August jump look more like an outlier for now than a new growth trend.
Lenders showed a more varied picture, with 4 of the top 10 managing growth:
HECM endorsements rose 24.1% in August to 4,387 loans in a welcome reprieve from the prior three months below the 4,000 loans/month level.
Volume was up across the board in all 10 regions, with the biggest jump in Rocky Mountain at 54.8% to 356 loans and that region’s highest monthly total in over 12 months.
Our top […]
HECM endorsements dropped -6.3% in July, totaling just 3,534 and marking a new low for the year in two of the past three months.
Four of the ten regions were up on for the month, but none of those were among the top four by volume:
HECM endorsements rose 3.4% in June to 3,771 loans, recovering a piece of the big drop in May. Although it was small, the increase was spread widely across the country with 8 of the 10 regions reporting growth:
HECM endorsements dropped dramatically in May to 3,646 loans – a full -14.1% decline from April. That’s the lowest monthly total since August 2014 as the industry struggled with the implementation of initial utilization restrictions.
All 10 regions of the country were down in the month, but 4 of the top 10 lenders improved:
HECM endorsements fell -6.4% to 4,243 loans in April, continuing the decline from a year ago which now totals -8.4% through the first four months. In spite of that dour news, some lenders have risen above:
HECM endorsements dropped 1% in March to 4,535 loans. The fairly steady pace indicates that February’s big increase was more than a one month story of lenders “catching up” on endorsements from prior months.
There was significant divergence among regions, with only 4 of the 10 showing growth amid the small national drop.
