HECM endorsements rose 4.8% in October, continuing the up and down gyrations as we head into year end. Active lenders grew 6.6% in the month, with a net increase of 12 companies endorsing at least one loan in the month.
As might be expected with such a minor volume increase, the story was mixed when you dive into the details:
- 7 of the 10 regions grew, including a 50% rise in Rocky Mountain and 33.5% in Southwest
- Conversely, only 5 of the top 10 lenders grew
- RMS showed the highest growth in the group, up 58.2%
- RMF and FAR also grew handsomely, up 28.9% and 25.5%, respectively
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.