HECM Lenders – January 2020

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.