HECM endorsements dropped dramatically in May to 3,646 loans – a full -14.1% decline from April. That’s the lowest monthly total since August 2014 as the industry struggled with the implementation of initial utilization restrictions.
All 10 regions of the country were down in the month, but 4 of the top 10 lenders improved:
HECM endorsement volume in March almost exactly matched the prior two years’ totals, falling 108 short of March 2015 and just 88 loans short of March 2014.
March endorsement volume was mostly flat, with Retail growing by 9/10 of a percent, and Wholesale/Broker volume down 3.88% over February.
Leading the way for the month were Live Well, up 87%, and Reverse Mortgage Funding, with growth of 28%. Of the top 10 lenders, AAG, Synergy One (RFS), and Home Point all grew in the […]
HECM endorsements fell -6.4% to 4,243 loans in April, continuing the decline from a year ago which now totals -8.4% through the first four months. In spite of that dour news, some lenders have risen above:
HECM endorsements have been lower than 2014 and 2015 for each of the first two months (and March will continue that pattern), but the gap is at least narrowing. That makes year over year comparisons a little rosier, particularly if we drill into some of the warmer markets as Spring thaws more of the […]
HECM endorsements growth in February was led by Retail/Direct lenders rising 20.3%, while Wholesale/Brokers put in a 14.3% increase that would be impressive in most any other month.
HECM endorsements dropped 1% in March to 4,535 loans. The fairly steady pace indicates that February’s big increase was more than a one month story of lenders “catching up” on endorsements from prior months.
There was significant divergence among regions, with only 4 of the 10 showing growth amid the small national drop.
Each year our first HECM Trends report marks a reset in many ways and this year it’s both good and bad.
On the downside, take a look at the graph on page 1 for an indication of how bad January’s endorsement total of 3,889 was in historical context. The lonely purple dot on the far […]
HECM endorsements took a disappointing dip in January to the lowest levels in over a year as the industry continued to absorb the impact of Financial Assessment changes last April. The surprise in our HECM Originators report is that almost all of this decline happened on the Retail side of the business, dropping -12.9% in […]
HECM endorsements rose 17.7% in February to 4,579 loans, putting a disappointing January result in the rear view mirror. Concerns about post-FA volume levels look a little less scary coming off the highest volume since September.
The volume growth was strong in 9 of the 10 regions we track across the nation and several lenders did […]
