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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 -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 endorsement volume dropped 15.5% in June to 2,838 units, the lowest endorsement level seen since May ’05.
Being short staffed with the holiday and travel, we are keeping the commentary to that headline number this month.
Happy Independence Day!
HECM endorsements slid -6.7% in September after bouncing back in August, with Retail performing significantly better (-4.6%) than Wholesale (-9.1%).
The largest lenders showed a trememdous spread in performance:
HECM endorsements were relatively flat in October, declining 2.1% from the prior month to 4,497 loans. Lender counts were also relatively unchanged, up 1.5% for the period.
Volume dropped in 6 of the 10 national regions, including the top three volume areas.
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While industry endorsements slipped a bit in April, year to date volume is still 12.5% higher than last year. Refinance transactions have picked up steam in 2017, coming in at 14% of endorsements. Even so, non-refi loan volume is up 8.8% year over year.
April brought the obligatory drop in endorsements after the big month in March, with volume falling 6% to 5,034 units. That is still good enough for the 2nd highest volume month in the last 12 months, and 4th highest in the past 2 years.
HECM endorsements gained 21% to 5,364 loans in March, marking the second highest total seen in the last 3+ years. We’d guess that the majority of gains are from endorsement timing issues since the FHA application volume hasn’t seen these kinds of gains in recent months. That said, there are still some interesting nuggets to be found […]
HECM endorsement volume finished the year on the upswing, with several areas around the country showing positive results for the month and year:
