Two months into the year HECM endorsements are down -5.5% from last year’s comparable period and slightly less so from the weak start in 2013. This early in the year things can shift around considerably and February was no exception.
- The top 3 states CA, FL and TX all improved their YTD growth rates from last month, with CA and FL having the additional distinction of being the only states showing growth over last year so far
- Virginia improved from January but continues to show the worst year over year decline among the top 10 states
- Refinances also grew, making up 11% of endorsements compared to 10% last month and 4% in February 2014
Our HECM Trends report is meant to give an overview of national trends in the reverse mortgage industry, but if you’re wondering how this can help you close more loans it’s probably better to look at more local trends to answer your key business questions:
- Where will your marketing dollars generate the most leads?
- Which zip codes should you hold seminars in?
- Where should you build your B2B network for professional referrals?
Contact us to see our Retail Dashboard to find answers to these questions and more – plus get your first month free (limited time offer).
Check out all the top states, cities and zip codes nationwide in the full report below by clicking the image below.