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HECM endorsements dropped -7.1% in November to 4,023 loans defying (for now) our prediction from a few months back that we’d see volume below 4,000 loans in a month due to financial assessment. We’re happy to be wrong and we’ll be happier when we see these numbers start to rise again!
A few notable performances stood out:
HECM endorsements fell -7.3% in October to 4,332 loans. The continued decline shows the impact of Financial Assessment implementation earlier this year as the pre-implementation pipeline of loans has almost entirely worked its way through the endorsement process.
Surprisingly, 6 of the 10 regions we track actually increased on the month, but it’s hard to see […]
HECM endorsements dropped -18.8% to 4,671 loans in September, ending a very solid 3 month run of volume inflated by borrowers funding loans ahead of Financial Assessment rules going into effect. Those rules went into effect all the way back in April for new case numbers issued, but given the lag times associated with funding […]
We’ve been waiting for Financial Assessment to bring down HECM endorsement volumes and we’ll have to wait at least one more month – but we’re betting that it will only be one more month.
HECM endorsements rose 14.3% to 5,750 loans, the highest level in more than two years (July 2013 @ 5,756). We’ve been talking for […]
HECM endorsements fell 5% to 5,029 loans in July, but still represent the second highest level of the past 12 months trailing only last month’s surge.
Several lenders showed big swings as well:
There are many ways to break a down trend, but few are better than the 23.9% growth in HECM endorsements seen in June. Overall volumes are still a bit low compared to just a few years ago at 5,296, but still good enough for the highest level since August 2013 – before initial utilization […]
HECM endorsement volumes declined for the fourth month in a row, declining -5% to 4,273 loans in May. That’s the lowest level since September, but the good news is that it’s still higher than each of the four months ending last September. Industry volume has dropped noticeably from the recent peak in January but we’re not in […]
HECM endorsements declined -3.1% in April to 4,497 loans from March. The decline was fairly broad based and reflects some weakness in fundings during the first months of the year.
HECM endorsements for March declined -2.3% to 4,640 loans from last month.
Endorsements are always a trailing indicator for our industry, and on that basis refinances continued to increase to the highest level since Feb 2010 as the effects of August’s PLF increase play out.
Using case numbers issued as a leading indicator, refinances have already declined significantly, down […]
HECM endorsements for February declined -4% to 4,747 loans from last month and dropped a bit more, -8.1% from a year ago.
