Coming Together – HECM Lenders June 2023

May HECM endorsements jumped 24.7% to 2,561 loans as the acquisition of AAG by FAR looks to be settling out in the volume figures. More to come on this in the second set of bullet points for today!

While the month was more of a lender story than a regional one in our opinion, it makes sense given the past few months pattern that 9 of the 10 regions were up in June:

  • NY/NJ rocketed 76.8% to 122 loans
  • Great Plains leaped 64.5% to 51 loans
  • Southwest rose 45.5% to 275 loans

AAG popped back up with some endorsements after nothing in May, but more importantly the bulk of their former volume showed up in FAR’s numbers. Just 4 of the 8 top lenders remaining showed growth in the month:

  • FAR shot up 319% to 695 loans and #1 position for June, as befitting the acquirer of the longtime top originator in the industry
  • Cherry Creek gained 35.1% to finish with 127 loans, a new high for that team as they settle in at Guild
  • Liberty and Longbridge each managed a small increase of 3.8% and 2.9%, respectively

Click the image below for the full report.