HECM endorsements continued their slow trickle downward, losing -4.7% in November to end the month with 3,561 loans.
Four of the ten regions grew, but they tended to be the smaller volume areas.
- Great Plains is the smallest region by volume but showed the biggest increase, rising 26.2% to 53 loans
- Midwest gained 8.8% to finish at 223 […]
HECM endorsements dropped -5.1% in October, ending the month with 3,737 loans.
Geographically, the industry had its two largest regions post declines while half of the remaining regions showed mostly small gains.
- New York/New Jersey was the notable exception, notching a strong 27.8% jump in volume to 193 loans
- Rocky Mountain rose 1.5% to 461 loans
- Southwest and Mid-Atlantic […]
HECM endorsements continued their slow drift downward in September, falling 1.75% from August numbers.
Only one of the ten HUD regions added volume in the month, with volume in the Mid-Atlantic region increasing 13% to 191 loans. Two regions (Rocky Mountain and Southwest) had volumes stay flat.
Reflecting the relatively unchanged industry volume, half of the top […]
HECM endorsements declined -5.9% in August to 4,007 loans, as reverse mortgage volume continues to be strong in the pandemic era.
Four of the ten regions around the country added volume in the month:
- Midwest rose 13.6% to 242 loans
- New England increased 10.1% to 120 loans
- NY/NJ and Great Plains grew 4.8% and 1.5%, respectively
Among lenders, 4 of […]
HECM endorsements grew 1.1% in July to 4,256 loans, lending further credibility to the increased volume levels since initial pandemic slowdowns in endorsement processing for March-April were overcome.
Six of the ten regions around the country grew in the month:
- New England paced the pack, rising 11.2% to 109 loans
- Southeast/Caribbean jumped 9.3% to 751 loans
- Great Plains gained […]
HECM endorsements fell -16.5% in June from a inflated May total artificially by the backlog from April, but still registered the second highest monthly total in a year.
June was 7.4% above the next highest month (January) and underlines the increased activity many lenders have been discussing since shortly after the pandemic started.
Last month we weren’t depressed by incredibly low April HECM endorsement numbers, and this month we look at the figures as catching up rather than some new trend.
HECM endorsements more than tripled in May, leaping 214.7% to 5,038 loans. Averaging April and May figures together would have the industry at 3,320 loans per month, just […]
The coronavirus pandemic has distorted many numbers, and we can add one more casualty.
HECM endorsements crashed -45% in April to 1,601 loans, lower than the low put in Dec 2018 (1,751) after the last round of PLF and rate floor changes from HUD. While we’d normally be very concerned about this level of drop, we […]
HECM endorsements declined -14% in February, continuing the decline seen in February..
None of the 10 regions we track were up on the month, with only one (Northwest/Alaska) unchanged for the period.
One a better note, three of the top ten lenders saw volume increases:
- American Advisors Group volume was up 108 units to 799 loans
- Fairway continued its […]
HECM endorsements declined -13.6% in February, moderating the blistering January pace but still well above levels from early 2019.
Just 3 of the 10 regions we track were up on the month.
- Great Plains was up 17.9% but as the smallest region it was just 66 loans
- Rocky Mountain has made quite a charge in the past year […]