Happy New Year! Hope everybody had an opportunity to spend some time family and friends over the holidays.
The industry ended the year with a little bang on the endorsement front. Volume was up almost 20% from the prior month at 4,658 loans, the highest level for the year, bringing the 2016 total to 48,794. Unfortunately this still leaves the industry down 13.5% on a yearly basis.
Highlights from December:
- 9 of the 10 regions experienced volume gains, highlighted by the the Rocky Mountain (+58%), Southwest (+36%) and Northwest/Alaska (+35%) regions.
- The two largest regions – Pacific/Hawaii and Southeast – both had their largest volume months of the year in December, as did the Rocky Mountain region.
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.