HECM endorsements dropped -5.1% in October, ending the month with 3,737 loans.
Geographically, the industry had its two largest regions post declines while half of the remaining regions showed mostly small gains.
- New York/New Jersey was the notable exception, notching a strong 27.8% jump in volume to 193 loans
- Rocky Mountain rose 1.5% to 461 loans
- Southwest and Mid-Atlantic each gained less than 1% on the month
Lenders had a bit less to cheer about, with just 2 of the top 9 posting gains:
- Mutual of Omaha Mortgage increased 7.7% to finish with 239 loans
- RMF was just behind that growth rate, rising 7.5% to 331 loans
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