HECM endorsements kept up the pace from last year’s finish, inching up 0.6% to 2,641 loans in January. It feels a bit like the industry is living on borrowed time from the brief decline in 10 year CMT rates last year, but it’s very hard to know what’s coming on an industry level without further insight into case numbers issued from HUD.
The regions reflected that steady state national picture, with half rising to start the year – but tilted toward the smaller regions:
- Rocky Mountain jumped 22.3% to 263 loans, leapfrogging to 3rd place on the month
- NY/NJ has put together two strong months in a row now to show the highest volume in over a year – up 17.9% to 138 loans
- Southwest barely missed double digit growth, gaining 9.5% to 253 loans
The top 10 lenders were very similar, with 5 up on the month and one unchanged:
- Goodlife more than doubled, leaping 113.1% from December to 179 loans – their highest in more than a year
- Guild rocketed 87.5% to 105 loans
- Liberty, Longbridge, and FAR were all up between 2-7% to hold their places at #2-4 on this report
Click the image below for the full report.
