HECM endorsements eased off a bit from January’s level, falling -10.4% to 4,066 loans. Part of this is due to a shorter month with only 19 working days. For comparison, February 2020 was down -13.6% from January 2020.
Regions around the country didn’t have any good news to offset the top level decline either, with only the smallest region managing to avoid declining and the rest all dropping.
Lenders fared better, with 3 of the top 10 gaining:
- FAR jumped 12.7% to 416 loans
- Open Mortgage gained 11.2% to finish with 219 loans
- Last on this list but still largest, AAG rose 6.8% to 1,374 loans
Click the image below for the full report.