There are many ways to break a down trend, but few are better than the 23.9% growth in HECM endorsements seen in June. Overall volumes are still a bit low compared to just a few years ago at 5,296, but still good enough for the highest level since August 2013 – before initial utilization restrictions were implemented.
Judging by the application and funding volumes we’re seeing from lenders through our industry data repository, it looks like we might have two more solid months of endorsement volume before the significant declines from financial assessment implementation drag volumes down again.
- All 10 regions were up on the month, with Southwest leading the way on loan counts: up 243 loans for 55.1% growth
- Rocky Mountain took the growth rate crown, growing 85.9% to 329 loans
- Among lenders, Home Point Financial (fka Maverick) took the cake with 55.2% growth to 149 loans
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.