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Lenders Leaping – HECM Lenders Apr 2024

April continued the slow but steady rise in endorsements, with 2,105 loans representing a 2.3% increase from March. And yet again, we saw March case numbers issued trend higher there as well, continuing the streak of consecutive monthly increases so far in 2024.

  • Overall cases issued grew 8.2% to 3,502 – the highest level since August
  • Equity Takeout (new borrowers) rose 9.4%
  • Purchase was up 18.3%
  • Refinance dropped -3.4%

Back to the endorsements, the 6 of the 10 regions increased volume, although with growth tilted toward the smallest regions in contrast to March:

  • Great Plains jumped 140% to 48 loans, although it remains half the size of the second smallest region
  • NY/NJ gained 20.9% to 104 loans
  • New England rose 10.1% to 98 loans

The top lenders put in a rare performance, with 7 of the top 9 increasing – and all at double digit rates:

  • Plaza added 48.4% to 46 loans
  • Liberty grew 40.5% to 118 loans
  • Guild gained 36.8% to finish with 78 loans

Click the image below for the full report.