November 1 traditionally marks the return of the NBA to our living rooms, but more importantly this year also saw a big jump in the number of HECM endorsements reported for the month just ended. October rebounded to 4,852 loans, up 29% to the highest level since February.
In a jump that big, many lenders and regions were big winners:
- RMS/S1L more than doubled from September, up 107% to 454 loans and the highest total for the company since February
- Reverse Mortgage Funding continues to climb the charts, up 80% to 220 loans and breaking into the top 10 on a trailing twelve months basis
The eastern seaboard saw particular strength and the top three percentage increase among our 10 regions tracked:
- New York/NJ up 41.6% to 470 loans
- New England up 38.9% to 232
- Mid-Atlantic up 37.9% to 582
If your company is FHA approved check out the rankings on page 5 of the report below. If your company is not FHA approved, watch out for our next edition of HECM Originators to find your ranking!
Click the image below for the full report.