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HECM endorsements for May rose 7.9% to 4,498 loans, but still down -12.9% from last year.
HECM endorsements totaled 4,170 loans in April, down -9.7% from March and the lowest level of the past twelve months. We’ve been suggesting for a couple months now that endorsements were
HECM endorsements dropped -10.6% in March to 4,618 loans. That’s an even larger decline (-20.9%) compared to last March, although that’s partly because March 2013 was the highest volume month for the industry since June 2011 – back when Wells Fargo, Bank of America and Metlife were all three still endorsing loans. For now, we’re […]
HECM endorsements rose 2.1% in February to 5,166 loans. This small rise put the industry back into positive year over year territory after showing a small decline in January, but that’s going to get a lot harder as March 2013 volume was at levels we haven’t seen since and application and funding volumes in recent […]
HECM endorsements rose 19.8% in January to 5,061 loans, the highest total since August. Just last month we speculated that volume would dip in the early part of 2014 – and so far at least we couldn’t be happier to be wrong.
Endorsements were up across […]
The last of the HECM endorsements for 2013 are in the books! HECM endorsements dropped -10% to 4,223 loans in December, while 2013 total loans rose 15.3% to 61,122.
It’s perhaps fitting that the year in which we saw loan volume grow for the first time since 2008 but also the most significant product changes in HECM […]
HECM endorsements for November rose 12% to 4,690 loans, marking the impact of standard ARM applications taken before the Sep 30th program changes. We expect to see endorsements continue to be relatively strong for the next few months, but turn significantly lower toward the end of Q1 next year. New applications are falling well short […]
NRMLA’s annual convention is just around the corner. Since we want everyone feeling good and happy next week at the conference, lets look at the numbers on an annual basis, and see what kind of positive things we can find.
HECM endorsements dropped -15.9% in September to 4,527 loans in the beginning of what we expect to be a trend of falling volumes related to the FHA HECM program changes enacted earlier this year.
Based on case numbers issued trends (a proxy for applications) in the chart below, it’s pretty easy to see that the decline […]
HECM endorsements for August declined -6.5% to 5,382 loans. July’s total was increased by HECM Standard fixed rate volumes working through the pipeline, so we’re likely seeing a reset to a lower level given weakness in funding volumes starting in July. There is a 2 month lag time from funding to endorsement for most loans, […]
