No Fooling – HECM Lenders Mar 2022

March HECM endorsements leaped 26.3% to 6,510 loans – and no this isn’t an April Fools joke! This is the highest monthly volume level since March 2011. All 10 regions were up, and it was anything but the usual western tilt:

• NY/NY led the way, gaining 50.4% to 206 loans
• New England shot up 40.8% to 145 loans
• Mid-Atlantic jumped 40.2% to 272 loans
• Southeast/Caribbean rose 38.4% to 1,075 loans

Lenders had a fabulous month too, with 8 of the top 10 rising. Even more impressive, a full half of the top 10 were above 500 loans for the month:

• FAR shot up 62% to 562 loans – good for second place on the month
• Fairway gained 38.7% to 265 loans
• Liberty increased 30% to 503 loans
• AAG also added 30% to finish with 1,944 loans and keep pace with the rapidly rising tide

With 10 year CMT rising precipitously in March we can expect turbulence ahead, but there’s no doubt the industry has really capitalized on favorable conditions to start the year. If you’re wondering how you can attract more of the industry’s increasing volume wherever you are, check out our HECM Neighborhood Widget to engage every visitor to your website! Click the image below for the full report.