HECM endorsements grew 3.9% in May, finishing at 4,350 loans.
There’s a saying in the stock market that traders should let winning positions “run,” or continue to perform for you. This month we saw a parallel in the HECM market, as 6 of the 10 regions increased volume on the month and they were 6 of the top 7 by volume in the past year.
- Mid-Atlantic jumped 24.5% to 239 loans
- Northwest/Alaska gained 16.7% to 496 loans and a new twelve month high for the region
- Southwest increased 15.5% to 394 loans, also a new twelve month high
Lenders were much more mixed, with only 3 of the top 10 posting gains last month:
- AAG rocketed 32.4% to 1,650 loans and a new 12 month high, more than 4 times their closest competitor on this report
- Hightech jumped 16.2% to 86 loans
- Advisors Mortgage Group rose 10.5% to 63 loans
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