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HECM endorsements declined -2.3% in June to 2,244 loans, extending a slow trend downward in recent months.

The regions were mostly weaker, with just 3 of 10 posting increases:

• NW/Alaska added 25.1% to 209 loans
• Great Plains rose 12.5% to 45 loans
• Pacific/Hawaii inched up 0.9% to 590 loans

The top 10 lenders did a bit better as we typically […]

HECM endorsements declined -1% in May to 2,296 loans, showing remarkable steadiness in the face of recent expected rate increases that reduce cash available at closing to borrowers.

The regions were mixed, with 4 of 10 posting increases and 1 unchanged:

• Rocky Mountain added 7.7% to 196 loans
• Mid-Atlantic rose 5.8% to 165 loans
• Southeast/Caribbean inched up 1.2% to […]
  

HECM endorsements bounced back 9% in April to 2,320 loans, after an expected drop in March from higher rates. We’re also starting to see more regular HECM data from HUD, so hopefully we’ll get a bit more updated read on case numbers issued in the near future (most recent published info is as of Jan […]

We’ve been expecting a decline in HECM endorsements for several months now after CMT rates spiked last Sep/Oct, and now we’re seeing that drop. HECM endorsements shrank -14.2% in March to 2,128 loans, only slightly above the lowest levels of the past 12 months last June and April.

The regions were almost universally negative, with just […]

It’s always worth remembering that February is the shortest work month of the year, even when we’ve been expecting some drop in HECM endorsement volumes. With that said, the -6.1% decline last month doesn’t look bad and the overall level of 2,481 loans is higher than each of the 2 previous February totals since the […]

HECM endorsements kept up the pace from last year’s finish, inching up 0.6% to 2,641 loans in January. It feels a bit like the industry is living on borrowed time from the brief decline in 10 year CMT rates last year, but it’s very hard to know what’s coming on an industry level without further […]