HECM endorsements declined -3.1% in April to 4,497 loans from March. The decline was fairly broad based and reflects some weakness in fundings during the first months of the year.
- 7 of the 10 regions declined in the month, with an eighth going sideways – and that was the smallest volume region (Great Plains)
- New England grew 21.4% but that mostly reflects declines in Feb/Mar as it remains below the Jan level
- Southwest grew 5.9% in a bounce back from a big drop in March
Among lenders, several stood out with strong results in April:
- Reverse Mortgage Funding jumped 82.4% to their highest total in their history and continuing to close the gap in run rates with the top 5 lenders
- RMS/Security One grew 16.9% after two slower months
- Live Well rose 15.8% to their highest total in recent history
If your company is FHA approved check out the rankings on page 5 of the report below. If your company is not FHA approved, watch out for our next edition of HECM Originators to find your ranking!
Click the image below for the full report.