HECM endorsements were relatively flat in October, declining 2.1% from the prior month to 4,497 loans. Lender counts were also relatively unchanged, up 1.5% for the period.
Volume dropped in 6 of the 10 national regions, including the top three volume areas.
- Of the decliners, the most significant was the NY/NJ region, dropping 18.5% from September
- On the positive front, volume in the Mid-Atlantic jumped ~15% over September
The top 10 lenders had a remarkably similar performance, with 6 declining:
- The gainers were led by Liberty and Hightech, whose volume each grew ~27%
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.