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January HECM endorsement numbers were underwhelming, but we’re not throwing in the towel on the year because we see positive developments just around the corner. We also have December application numbers to update a long-running chart series, so let’s dig in.
First, endorsement volumes for January came in at 6,464, down -1.4% from December and down […]
Retail HECM endorsements for December were virtually flat with November, down just -0.1% to 6,554 loans. That story isn’t much to write home about, but fortunately there’s a much bigger story hiding just below the surface. First though, let’s settle final 2010 numbers for those keeping track:
We’ve […]
Retail endorsement numbers are out for November, and were much improved vs the last couple months. This is likely due to pullthrough from September’s inflated apps, and we wouldn’t be surprised to see another strong number in December as more of September’s apps are burned off.
Ok, on to the report. Here […]
We’re a week later than our usual schedule this month, but after seeing how wild the French Quarter was this past week (the Realtors’ convention overlapped with NRMLA’s Annual event), we’re just happy we made it back without permanent injuries! It was a great time in New Orleans and we really enjoyed catching up with […]
September ended with a bit of a whimper, just 5,966 HECM endorsements, down -10.2% from August. For the government fiscal year, we ended at 79,096 units, down -31.1% from FY2009.
Given the changes rolling out today with the new fiscal year for HUD/HECM, we thought we’d share our volume forecast for the next 12 months (fiscal […]
It’s always more fun to report good news (since no one shoots the messenger in these cases!) and August continued a welcome trend higher in reverse mortgage business volumes. Endorsements were up 12.6% from July, again coming in ahead of increases in competition since the trough in May.
We also saw modest success in applications, coming […]
We’re a few days behind our usual schedule as we enjoyed a quick trip out to Dallas for Reverse Mortgage Day in Texas. As always, it was very well organized and if you were busy networking in the halls or didn’t attend, you can find our presentation on current trends in the reverse […]
Most years you want to see some good news before you’re six months in, but given all the headwinds for the industry we’ll take our wins where we can get them. June marked the first growth in HECM endorsement volumes in 2010, finishing with 5,304 and up 16.5% from May’s dreadful levels. Sure, the […]
We suggested in last month’s report that we expect endorsement volumes to get worse before they get better, and May certainly proved that point. It would have been more fun to be wrong in this case: May volume came in at just 4,554 loans, down 17% from April and the lowest monthly volume since […]
As we saw last month, the downtrend in application numbers is finally starting to significantly impact endorsement numbers. That trend has continued in April, with overall industry numbers down to 5,511 units, dropping 5.3% from March.
Thankfully (if you’re among the survivors), there was an even greater decline in active lenders (down 7%) […]
