HECM endorsements rose 3.2% in July to 4,293 loans, in a slightly delayed release due to system updates at HUD.
While we again saw only 3 of the 10 regions increase volume, all 3 were in the top 5 volume regions and that made all the difference:
- Pacific/Hawaii jumped 11.2% to 1,643 loans – almost 1,000 loans ahead of second place Southeast/Caribbean
- Rocky Mountain gained 8.5% to 537 loans – its highest monthly total in over a year and the only region to add loans in each of the last 2 months
- Southwest added 3.2% to 319 loans and mirror the national increase
Lenders had a much better performance, with 5 of the top 10 posting gains:
- RMF rocketed 62.1% to 582 loans, regaining second place in our rankings
- Open Mortgage rose 25.8% to 205 loans
- Liberty increased 8.6% to 302 loans
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