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Going Sideways – HECM Lenders Oct 2023

HECM endorsements rose 2% to 2,667 loans in October, as the industry continues to feel the impact of several months of low case number issuance.

We don’t yet have September figures for case numbers issued, so the most telling indicator of future volume will have to wait for now.

The geographic mix was even more even than the volume change, with half of the regions going either direction:

  • NY/NJ jumped 45.2% to 135 loans
  • Northwest/Alaska grew 20.5% to 247 loans
  • Southeast/Caribbean gained 17% to 655 loans

Lenders were slightly less positive, as just 4 of the top 9 (RMF has now fallen out of the top 10) were up:

  • Goodlife/TMAC jumped 64% to 123 loans, quite the bounce back from single digits in June and July!
  • Open Mortgage rose 29.5% to 57 loans
  • Liberty grew 20.6% to 117 loans

Click the image below for the full report.