HECM endorsements were up by a surprising amount in August as we pointed out in our HECM Lenders report last month, but pessimists and cynics alike can take comfort that year to date industry volume remains down at -16.8% as of August.
That being said, those looking for bright spots can continue to find hope in several sections of this month’s HECM Trends report below.
- Last month we pointed out that Colorado and Washington were the only states to grow HECM endorsement volume year to date and while that is still true, Colorado further bolstered its claim, now up 32.9% YTD, while Washington is barely hanging on at 2% growth.
- Denver is powering much of Colorado’s growth, up 55.7% to 285 loans year to date
- Los Angeles is holding up well despite California’s modest decline, rising 24%
Be sure to check out the full report by clicking the image below.