HECM endorsements fell -12.3% to 2,614 loans in September, a result that was obviously coming based on recent case number issuance weakness.
The good news is that case number issuance jumped 18.5% in August, so there is reason for optimism looking forward.
The geographic mix looked particularly poor, as the top 7 regions all declined, leaving only the bottom 3 with any growth:
- Great Plains rose 14.3% to 64 loans
- New England gained 12.4% to 100 loans
- NY/NJ inched up 1.1% to 93 loans
Only 1 top 10 lender endorsed more loans than last month:
- Open Mortgage added 2.3% to finish with 44 loans
Over on page 5 of the report, a few notable companies are showing significant growth year to date, including Ennkar, which is up 79% to 125 loans for Jan-Sep. If you want to hear more about how that team is growing in this market, look out for our upcoming webinar!
Click the image below for the full report.