HECM endorsements dropped -6.8% in September, finishing at 4,592 loans. With the rule changes going into effect today not expected to significantly affect endorsement volumes until December or even January, we’re also getting a clearer picture of where 2017 is likely to end up.
7 of the 10 regions nationwide dropped, with all 3 of the gainers leaning toward the smaller volume end:
- Great Plains is the smallest region but had the biggest gain, rising 13.6% to 100 loans
- Rocky Mountain ranks #4 with 430 loans, an increase of 0.9%
- Northwest/Alaska ranks #7 at 326 loans, up 1 loan (0.3%) from August
Lenders saw an even more dour performance, with just 1 of the top 9 gaining on the month:
- Live Well rose 37.6% to 216 loans, their highest monthly total in over 12 months
- The top 10 lenders collectively dropped -8.6%
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.