HECM endorsements continued their slow drift downward in September, falling 1.75% from August numbers.
Only one of the ten HUD regions added volume in the month, with volume in the Mid-Atlantic region increasing 13% to 191 loans. Two regions (Rocky Mountain and Southwest) had volumes stay flat.
Reflecting the relatively unchanged industry volume, half of the top 10 lenders had improved endorsements for the month:
- Open Mortgage led the way on a percentage basis, increasing volume 32.6% to 236 loans.
- Finance of America Reverse rose 23.9% to 394 loans
- Liberty Reverse Mortgage added 6.7% with 256 loans
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