HECM endorsements fell -7.3% in October to 4,332 loans. The continued decline shows the impact of Financial Assessment implementation earlier this year as the pre-implementation pipeline of loans has almost entirely worked its way through the endorsement process.
Surprisingly, 6 of the 10 regions we track actually increased on the month, but it’s hard to see the industry grow when the top 2 regions shrank so much. Pacific/Hawaii endorsement volume alone has been cut in half in just the past two months.
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.