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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:
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.
HECM endorsements started the new decade off with a bang, rising 59.2% to 3,919 loans. That’s the highest monthly total since February, which was artificially boosted by the catch-up from a partial government shutdown late in 2018.
All 10 of the regions we track were up, the second consecutive month that all regions moved in […]
HECM endorsements dropped -13.4% in December, ending at 32,482 for calendar 2019.
All 10 of the regions we track were down reflecting a broad based, but mostly shallow volume decline.
Four of the top ten lenders were up on the month:
Sorry for the late update here! We’ve been under the weather this week…
Click the image below for the full report.
HECM endorsements increased 36.2% in October, providing a nice sugar rush to this post-Halloween morning for reverse industry folks
The regions were all higher, with several showing significant growth:
7 of the top 10 (excluding Live Well) were up […]
HECM endorsements increased 3.4% to 2,420 loans in September, continuing a second consecutive month of low production levels. The last time volume was lower than Aug-Sep was during the lingering effects of a partial government shutdown in January.
The regions were mixed, with 4 reporting gains and 6 declining:
HECM endorsements dropped -15% in August to 2,341 loans, throwing a little cold water on the industry after 6 months of relatively optimistic endorsement volumes eased concerns over Dec-Jan readings <2,000 loans per month. This could easily be a blip given the lower interest rates easing lenders’ path to higher principal limits, but that’s always […]
HECM endorsements rose 8.2% in July to 2,754 loans. Lower interest rates on the 10 year swap rate in particular help HECM volume, plus an extra business day in July never hurts.
Here’s the regional breakdown:
Three of the top ten […]
