Category Archives: HECM Lenders

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%) […]

HUD published the monthly endorsement numbers on Thursday, and we are finally really starting to see the effects of the lower level of application on endorsement volume. Overall industry numbers for March came in at 5,822 units, down 17% from February. For the first quarter, overall volume fell 32% versus Q1-09.

No region was spared, […]

The retail endorsement numbers for February 2010 are now available.  Endorsement volume came in at 7,024 units for the month, a 7.9% drop from January, and a decline of 22.7% from last year.  It seems like each month we’re reaching further back for a comparable volume period – we have to go all the way […]

The retail endorsement numbers for the January 2010 are now available. Endorsement volume came in at 7,629 units for the month, an 8% drop from December 09, and a decline of 22.6% from January of last year. We have to go all the way back to October 2006 to see a lower endorsement number.

Some highlights […]

The December 2009 endorsement data has been put out by HUD, bringing us to the conclusion of a tumultuous year in the reverse mortgage industry. Endorsement volume climbed 7% from November levels to 8,284 units. Volume for the year ended at 111,924 endorsements, a 2.8% decrease from 2008.

The fourth quarter was significantly weaker than the […]

November’s endorsement numbers are in and the volume was pretty weak, coming in at 7,738 units for the month. This is down almost 12% from October, and 34% from the peak volume month of April 2009, and just to pile on the misery, is the lowest volume month we’ve seen since September ’07.

Year to date […]

October numbers are in and the month proved more trick than treat for HECM volume, down 7.4% from September.  This isn’t a reflection on the demand that was pulled forward into the last week of September by the announcement of a very fast principal limit reduction implementation, as we don’t expect that surge […]

Sometimes it seems that the more things change, the more things stay the same.  Despite tremendous changes underneath the surface this year (lending limits increased, HECM for purchase authorized, principal limit reductions, etc.) the top line in the reverse mortgage business is in a dead heat with last year’s results.  As of September, 2009 volume […]