HECM endorsements fell -16.5% in June from a inflated May total artificially by the backlog from April, but still registered the second highest monthly total in a year.
June was 7.4% above the next highest month (January) and underlines the increased activity many lenders have been discussing since shortly after the pandemic started.
- Just 1 of the 10 regions increased on the month, with Northwest/Alaska inching up 1.7% to 418 loans
- The largest region, Pacific/Hawaii, declined by just 5 loans or -0.3%
Among lenders, 2 of the top 10 saw gains in the month:
- HighTech rocketed 604% to 169 loans, far exceeding any two month total for the company in the last year
- Synergy One increased 10.6% to 272 loans, a second consecutive monthly record for the company
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