Inching Up – HECM Lenders May 2023

May HECM endorsements inched up 4.6% to 2,053 loans as the case number increases we’ve seen year to date look to be working their way through the pipeline.

Eight of the ten regions were higher for the month, although all the biggest gains were among 3 of the 4 smallest volume regions:

  • New England rose 37.3% to 92 loans
  • Great Plains jumped 24% to 31 loans
  • Mid-Atlantic gained 14.6% to 110 loans

Lenders are quite interesting lately, with 2 of the top 10 showing no volume in May due to exiting the industry (RMF and AAG). Of the remaining 8, 5 increased volume and another matched its April volume to paint a fairly positive picture:

  • Goodlife/TMAC increased 51.6% to 47 loans
  • Mutual of Omaha gained 16.2% to 567 loans and setting up a battle for the industry’s top lender spot as FAR has yet to see any AAG bump flow through endorsements…
  • Open Mortgage rose 6.3% to 119 loans and should bump up a spot in the rankings next month as well

Click the image below for the full report.