HECM endorsements saw a big jump in June thanks to borrowers acting ahead of Financial Assessment implementation: applying and receiving a case number prior to April deadline, even through loan funding and endorsement happens later.
And we certainly saw some varied performance among states and cities:
- California continued to improve on last year’s pace, up 12.9% year to date compared to just 8.8% last month
- Florida upped the pace yet again to 26.1% growth, highest in the top 10
- Texas jumped all the way to +8.9% growth after showing a decline of -1.0% last month!
Check out more detail in the full HECM Trends report below by clicking the image below.