HECM endorsements grew 4.9% to 2,064 loans last month. HECM applications (as evidenced by case numbers issued) have been consistently above 3,000/month since February, so all indications point to steady (but small) volume until that changes.
Fully six of the ten regions grew HECM endorsement volume for the month:
- Midwest jumped 49.3% to 200 loans, the highest for the region this year
- NY/NJ rose 28.8% to 134 loans, also a year to date high
- Great Plains grew 11.6% to 48 loans
- SE/Caribbean added 11.4% to 449 loans
The top 10 lenders weren’t quite so fortunate, with just 4 growing in June:
- Fairway bounced 203% to 112 loans
- Hightech popped 39% to 32 loans
- Finance of America jumped 18% to 481 loans and top spot for the month
- Longbridge rose 14% to 407 loans
As usual, the full lender rankings and volume is in the full report if you click on the image below.
