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Keep It Up – HECM Lenders April 2013

After a big improvement last month, HECM endorsements declined slightly in April to finish at 5,770 loans, down -1.2% from March. That figure was still good enough for 2nd highest in the past 12 months, behind only last month.

Regional volumes were mostly down, with 6 of the 10 regions declining.

  • The top 2 regions, Southeast/Caribbean and Pacific/Hawaii both increased, each turning in their highest performance of the past 12 months.
  • Rocky Mountain and New England also increased, with the former also setting a 12 month high and the latter just missing.
  • Midwest declined the most, dropping -17.1% from March. Don’t let that fool you though, this region is up the most year to date at 20.9%.

Among lenders, there continues to be a shakeup as Metlife and FNB Layton are slowly working their way out of the top 10.

  • Liberty retains its number one title for the trailing 12 months but Security One is close behind and took the top spot for April’s single month volume
  • One Reverse continues its steady ascent up the charts with its first month above 500 loans endorsed
  • As Metlife and FNB Layton drop off, it looks as though Sun West, Maverick and Associated Mortgage Bankers are in a three way race to jump into the top 10.

HECM Originators and HECM Trends are expected back shortly, hopefully this month. ¬†Cross your fingers that doesn’t fall to the sequestration ax!

Please click the image below for the full report.