HECM endorsements dropped -1.5% to 2,034 loans last month, although the lender count dropped considerably more (-10.3%). HECM applications dipped slightly under 3,000/month in June, the first time we’ve seen that since January, likely pointing to proprietary reverse mortgages continuing to siphon volume away from the HECM product.
Half of the ten regions grew HECM endorsement volume for the month:
- New England jumped 34.9% to 112 loans after three months <100
- Rocky Mountain rose 7.1% to 180 loans
- NW/Alaska gained 6% to 178 loans
- Pacific/Hawaii and Mid-Atlantic also grew in the month
The top 10 lenders matched the regions, with half rising in July:
- Goodlife bounced back 75.4% to 107 loans
- Guild added 34.7% to 66 loans
- Plaza rose 16.2% to 43 loans
- FOA and Hightech both added loans last month also
As usual, the full lender rankings and volume is in the full report if you click on the image below.
