HECM endorsements jumped 16.3% to 5,029 loans in October, in an emphatic move higher after a swoon in August. As always, it’s best to take a single month of endorsements with a grain of salt since lenders are focused on funding rather than endorsement (that’s where the money is).
Midwest took its turn in the barrel this month, as the only region with declining volume from September:
- NY/NJ was the only region down in September and made up for it in October, rising 38.1% to 145 loans
- Southwest was just behind at 35.8% growth to 379 loans
- Southeast/Caribbean was up 25.9% to 813 loans
Seven of the top ten lenders were up on the month:
- Liberty again topped the charts, leaping 103% to 615 loans with the second highest total on the month
- FAR gained 41.7% to finish with 401 loans
- Fairway bounced back 36.7% to 108 loans
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