Each year our first HECM Trends report marks a reset in many ways and this year it’s both good and bad.
On the downside, take a look at the graph on page 1 for an indication of how bad January’s endorsement total of 3,889 was in historical context. The lonely purple dot on the far left shows a low we’ve only sunk beneath twice since the beginning of 2014 (Aug and Sep 2014). At least we already know February was a breath of fresh air!
On the upside, all the geographic comparisons get reset so we see a clean look at where the industry is starting off on the growth side!
- Denver started the year with a bang, rising 85.7% to 26 loans from last January
- Phoenix was close behind the pace, up 77.8% to 32 loans
- Los Angeles county had minimal growth at 1.3% but totaled 236 loans compared to second place Maricopa (AZ-Phoenix)
- California is out front even further, at 890 loans ahead of Florida’s second place showing of 296
Be sure to check out the full report by clicking the image below.