HECM endorsements rose 16.2% in August, after a potentially worrying decline in July.
We don’t have an update yet on case numbers issued past June or endorsement mix in August, but once those are available we’ll be looking closely at new HECM growth and where refinance activity is settling.
On the regional side, 8 of the 10 regions around the country posted increases:
- New England led the way, rising 36.8% from July to 156 loans – the region’s highest tally since March 2018!
- Great Plains gained 32.2% to 78 loans
- Midwest was just behind, increasing 29.6% to 289 loans
Six of the top ten lenders also managed gains:
- Fairway recovered 66.1% to 294 loans, reversing a 3 month slide
- Longbridge jumped 47.3% to 931 loans, their second consecutive record month
- RMF added 34.4% to 297 loans
If you’re looking beyond H2H refinances as HELOC interest is rising, let’s talk!
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