HECM endorsements increased 3.4% to 2,420 loans in September, continuing a second consecutive month of low production levels. The last time volume was lower than Aug-Sep was during the lingering effects of a partial government shutdown in January.
The regions were mixed, with 4 reporting gains and 6 declining:
- Mid-Atlantic rose 17.4% to 169 loans
- Northwest/Alaska grew 12.6% to 223 loans
- Pacific/Hawaii increased 11.3% to 791 loans
5 of the top 10 (excluding Live Well) were up too:
- Liberty recovered most of the way from a drop in August, gaining 110.4% to 101 loans
- AAG rose 18.4% to 791 loans
- Longbridge followed a solid gain in August to post its highest recent total, jumping 16.2% to 79 loans
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!
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