It’s always fun to look at year to date results for the first month of the year because we’re effectively comparing January with last January. On the one hand, any single month comparison is noisy and potentially misleading since endorsements are typically less managed than applications or funding. On the other, it’s useful to think about how much the industry has changed in the past 12 months. In the latter spirit (but keeping the former in mind), here goes:
- January was down -2.3% from the prior year, which is almost the same as the -2.5% drop from 2013 to 2014 for the month
- Florida was the fastest growing state among the top 10, rising 15.2% and rising back above Texas to claim #2
- Baltimore and Las Vegas both had massive growth figures at 100% and 85.7%, respectively, but top ranked Los Angeles impressed with 23.8% as the largest city for HECM volume
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Check out all the top states, cities and zip codes nationwide in the full report below by clicking the image below.