HECM endorsements started the new decade off with a bang, rising 59.2% to 3,919 loans. That’s the highest monthly total since February, which was artificially boosted by the catch-up from a partial government shutdown late in 2018.
All 10 of the regions we track were up, the second consecutive month that all regions moved in the same direction (and a better direction at that).
- Mid-Atlantic jumped 126.4% to 249 loans
- New England leaped 91.9% to 142 loans
- New York/New Jersey gained 86.2% to finish with 229 loans
Eight of the top ten lenders were up on the month:
- Liberty posted 475 loans as they caught up on an obvious endorsement backlog (only 2 endorsements in December)
- Longbridge tripled, increasing 225% to finish with 117 loans
- Open Mortgage doubled, endorsing 187 loans on a 112.5% increase
Click the image below for the full report.