HECM endorsements rose 8.2% in July to 2,754 loans. Lower interest rates on the 10 year swap rate in particular help HECM volume, plus an extra business day in July never hurts.
Here’s the regional breakdown:
- Southwest jumped 51.8% to 299 loans
- Rocky Mountain gained 38% to 287 loans
- Midwest increased 31.5% to 213 loans
Three of the top ten lenders bucked the trend with solid performances on the month:
- RMF paced the top 10 with a 23.7% increase to 219 loans
- Synergy One was just behind, rising 22.1% to 177 loans
- AAG gained 17.1%, adding the equivalent of the 6th place lender’s volume last month to pad its overall lead
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.