HECM endorsements dropped -0.8% in April, finishing at 4,187 loans.
With such a small decline nationally it was a bit surprising to have just 3 of the 10 regions we track show growth:
- Southwest had a banner month, popping 53.6% to 341 loans to fully recover from a disastrous March
- New York/New Jersey rose 16.1% to 187 loans
- Great Plains gained 13.4% to 76 loans
Lenders fared slightly better, with 4 of the top 10 posting gains:
- Liberty jumped 18% to 314 loans, their highest showing in 11 months
- Open Mortgage increased 16.4% to 234 loans
- Longbridge rose 14.3% to 208 loans
Click the image below for the full report.