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HECM endorsements for March declined -2.3% to 4,640 loans from last month.
Endorsements are always a trailing indicator for our industry, and on that basis refinances continued to increase to the highest level since Feb 2010 as the effects of August’s PLF increase play out.
Using case numbers issued as a leading indicator, refinances have already declined significantly, down […]
HECM endorsements for February declined -4% to 4,747 loans from last month and dropped a bit more, -8.1% from a year ago.
January saw HECM endorsements mostly flat from December, rising just 0.1% to 4,946 loans. It’s a decent way to start off the new year, but as seems to always be the case we’re expecting the biggest story for volume this year to be related to an FHA change in the program. Financial Assessment rolls out in […]
December HECM endorsements grew 12.1% to 4,942 loans, marking the highest monthly volume since February. With the full year of 2014 now in the books, it looks almost decent with the exception of a nasty stretch from June-September that reflected the volume drops related to FHA’s 9/30/2013 changes to the HECM program (primarily the initial […]
HECM endorsements declined -9.1% in November to 4,410 loans but retained most of the big gains from October. Given this somewhat expected pullback we’re not expecting 2014 to exceed 2012’s calendar year total of 52,993 as that would take a December volume of 5,181 loans which would be the highest so far this year and seems […]
November 1 traditionally marks the return of the NBA to our living rooms, but more importantly this year also saw a big jump in the number of HECM endorsements reported for the month just ended. October rebounded to 4,852 loans, up 29% to the highest level since February.
In a jump that big, many lenders and […]
HECM endorsements bounced back from a dismal showing in August, rising 15.5% to 3,762 loans. That’s still below last year’s pace of 4,527 loans, but the gap is at least narrowing compared to last month’s drop of over 2,000 loans from Aug 2013.
Through 9 months, 2014 is running -6% behind the pace from 2013 in […]
HECM endorsements for August underlined the dog days of summer, declining -20.4% to 3,256 loans. Applications and funding have turned the corner back up toward growth already so this is probably the low point for endorsements following last September’s principal limit factor reductions, but it’s not out of the question to bump along the bottom […]
HECM endorsements rose 4.2% to 4,092 loans in July, up from the 18 month low reached in June. Seven of the ten regions we track were up, with two showing the highest totals in several months.
We’d like to blame our business trip to the East Coast for our delay in getting this newsletter sent out, but in reality we’re still grieving over the US national team’s defeat in the World Cup despite a valiant defensive effort. Getting out of a brutal group stage was a big win, but it still […]
