HECM endorsements rose 3.4% in June to 3,771 loans, recovering a piece of the big drop in May. Although it was small, the increase was spread widely across the country with 8 of the 10 regions reporting growth:
- Southwest reported the biggest rise, up 14.2% from last month and more than halfway back from the region’s May drop
- Rocky Mountain barely missed a double digit increase, rising 9% but recovering far less of last month’s drop than most others
- Great Plains is the only region <100 loans per month these days, but did nudge up 7% on the month
Among lenders the picture was more volatile, with several up double digits on the month:
- High Tech Lending jumped 52.9% to 159 loans and smash their prior record total of 114 set just 3 months earlier
- Synergy One grew 22% to 183 loans and their highest volume since December
- Liberty rose 20.9% to 272 loans, sliding up one spot in the rankings to third
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.
