HECM endorsements dropped again in December, finishing the year at 32,448 loans. That’s a decline of -22.2% from 2018, but that really does skew perception given that 2018 endorsements were inflated by 2017 fundings leaking into the first few months of 2018. Suffice to say that most everyone we’ve talked to in the industry lately was in much better spirits than a year ago.
The top 10 as a group again under-performed the industry (-16.8% vs. -13.6% overall) but some lenders had strong performances:
- RMF jumped 45.1% to 386 loans and second place on the month
- High Tech gained 44.9% to 71 loans after a disappointing November
- Open Mortgage increased 12.3% to 91 loans
See where your company stands on pages 3-4 of our rankings.