HECM endorsements dropped -7% in May, reinforcing the lumpiness and uncertainty around HECM volumes after an encouraging April tally. Most of the larger regions declined but a few of the lower volume regions built on April gains:
- Midwest jumped 23.1% to 213 loans, its highest level since October (outside of the catchup boost in Feb)
- Great Plains rose 15.4% to 60 loans
- Mid-Atlantic gained 15.1% to 214 loans
Several lenders bloomed as well:
- Live Well is winding things down but managed 31.1% higher endorsements in May
- Longbridge jumped 21.4% to 68 loans, their highest month in over a year
- Synergy One rose 9.9% to 178 loans, also their highest in over a year (outside of Feb’s catchup)
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.