HECM endorsements rose 24.1% in August to 4,387 loans in a welcome reprieve from the prior three months below the 4,000 loans/month level.
Volume was up across the board in all 10 regions, with the biggest jump in Rocky Mountain at 54.8% to 356 loans and that region’s highest monthly total in over 12 months.
Our top 10 lenders were a bit more varied, with only 7 of 10 growing but also some real standouts:
- Reverse Mortgage Funding jumped 74.2% to 460 loans, good enough for third place on the month
- Finance of America Reverse was just behind at 73.8% growth to 518 loans
- High Tech Lending continues bounced back 71.3% to 137 loans from a disappointing July total to resume their impressive rise this year
If your company is FHA approved check out the rankings on page 5 of the report below. If your company is not FHA approved, watch out for our next edition of HECM Originators to find your ranking!
Click the image below for the full report.