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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, […]
HECM endorsements for July 2013 totaled 5,756 loans, up 7.1% from June and 15.2% year to date. The increase of 48.8% from last July’s dismal level of 3,868 was even more dramatic, but that was also the start of a 6 month period with 4 of the lowest volume totals in recent memory (under 4,000 per […]
HECM endorsements rose 0.4% to 5,372 loans in June, finishing 3.6% above June 2012 level. Despite the very small increase in June, 7 of the 10 regions tracked were up, although notable exceptions were the top 2 regions (Southeast/Caribbean and Pacific/Hawaii).
Among lenders, consolidating volume for the merger of Security One Lending with RMS results in […]
HECM endorsements were down 7.2% in May to 5,352 loans and continuing a modest trend of weakness since the recent peak in March. Year to date volume is up 12.4%, while competition as measured by active lenders is up 3.0%
With the 4/1 moratorium on new applications for HECM standard fixed rate products, one of the […]
After a big improvement last month, HECM endorsements declined slightly in April to finish at 5,770 loans, down -1.2% from March. That figure was still good enough for 2nd highest in the past 12 months, behind only last month.
Regional volumes were mostly down, with 6 of the 10 regions declining.
HECM endorsements climbed 20.8% in March to their highest level since June 2011. That date is significant, in that it was the last month Wells Fargo was fully active in the industry, although their endorsements were reflected for a few more months after their exit announcement. Either way, it’s a significant hurdle for the industry […]
HECM endorsements declined -6.9% in February after a surge in January, but stayed well above the average for the prior 11 months at 4,833 loans.
Some regions of the country were more affected than others by the small decline, while others broke the trend to increase from January:
In the first report of 2013, HECM endorsements were up 32.6% to 5,189 – the highest level we’ve seen since last February. It’s possible that the increase was due to a catch up from prior months that were depressed due to FHA system issues, but in any event it puts a rather welcome positive note […]
It’s perhaps fitting that December HECM endorsement totals came in at 3,912 loans, down -11.8% from November and registering the 4th month below 4,000 loans in the past 6. That brings total 2012 calendar year (as opposed to federal fiscal year that FHA uses) endorsements to 52,992, down -22.9% from 2011.
The industry endorsements increased 18.5% for the month of November, coming in at 4,436 vs the 3,745 reported last month. This marks the best month since June.
Geographically speaking, all regions were up relative to October, a feat not matched since… June.
