Coasting In – HECM Lenders Nov 2023

HECM endorsements dropped -15.4% to 2,257 loans in November. We haven’t seen any case number issuance data since August, but it’s a fair bet that recent high 10 year CMT rates have significantly affected that leading indicator and behind the endorsement volume weakness.

The geographic mix was just one region away from a universal downturn:

  • New England was the sole region to gain volume, rising 15.3% to 98 loans

The top 10 lenders had a little better month, with 4 of the top 9 inching up:

  • Fairway jumped 33.7% to 111 loans
  • Guild added 9.4% to 58 loans
  • Liberty managed a 2.6% increase to 120 loans
  • Longbridge rose 2.1% to 242 loans

Click the image below for the full report.