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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.
January saw HECM endorsements mostly flat from December, rising just 0.1% to 4,946 loans. It’s a decent way to start off the new year, but as seems to always be the case we’re expecting the biggest story for volume this year to be related to an FHA change in the program. Financial Assessment rolls out in […]
December HECM endorsements grew 12.1% to 4,942 loans, marking the highest monthly volume since February. With the full year of 2014 now in the books, it looks almost decent with the exception of a nasty stretch from June-September that reflected the volume drops related to FHA’s 9/30/2013 changes to the HECM program (primarily the initial […]
HECM endorsements declined -9.1% in November to 4,410 loans but retained most of the big gains from October. Given this somewhat expected pullback we’re not expecting 2014 to exceed 2012’s calendar year total of 52,993 as that would take a December volume of 5,181 loans which would be the highest so far this year and seems […]
