HECM endorsements fell 5% to 5,029 loans in July, but still represent the second highest level of the past 12 months trailing only last month’s surge.
- Mid-Atlantic led the way among regions with a 18.3% gain to 601 loans
- New England also posted double digit growth at 13.2%, totaling 232 loans
Several lenders showed big swings as well:
- Urban jumped 46.6% to 478 loans, their highest level in over 12 months
- Reverse Mortgage Funding grew 25.5% to 251 loans, just below their April record performance of 259
- Last but not least, RMS grew 13.4% to 389 loans
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.