HECM Lenders – June 2020

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

Click the image below for the full report.