HECM Lenders – August 2020

HECM endorsements declined -5.9% in August to 4,007 loans, as reverse mortgage volume continues to be strong in the pandemic era.

Four of the ten regions around the country added volume in the month:

  • Midwest rose 13.6% to 242 loans
  • New England increased 10.1% to 120 loans
  • NY/NJ and Great Plains grew 4.8% and 1.5%, respectively

Among lenders, 4 of the top 10 showed increases:

  • Longbridge continued its hot streak, posting a second consecutive monthly volume record by rising 38.2% to 275 loans – 4th most in the month despite ranking 8th over the past year
  • Open Mortgage jumped 28.1% to 178 loans
  • Mutual of Omaha Mortgage rose 15.5% to 246 loans

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