HECM endorsements started the new year with a bang, rising 10.8% to 4,539 loans. That’s the highest since the surge in May as endorsements caught up from the COVID-remote working transition lull in March and April. Quite the positive start for the year!
For the second straight month we saw 8 of the 10 regions increase volume compared to the prior month:
- Mid-Atlantic more than recovered from a slight dip in December, jumping 40% to 273 loans
- Northwest/Alaska leaped a second month in a row, rising 30.1% to 553 loans for its highest monthly total in over a year
- Midwest joined the party too, gaining 19.5% to 276 loans
Lenders were only slightly less buoyant, with 7 of the top 10 up to start the year:
- Hightech rose 67.9% to 94 loans
- Longbridge endorsed 280 loans, a gain of 46.6% and their highest total ever on this report!
- RMF leaped 38.9% to finish with 603 loans
Click the image below for the full report.