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The last of the HECM endorsements for 2013 are in the books! HECM endorsements dropped -10% to 4,223 loans in December, while 2013 total loans rose 15.3% to 61,122.
It’s perhaps fitting that the year in which we saw loan volume grow for the first time since 2008 but also the most significant product changes in HECM […]
HECM endorsements for November rose 12% to 4,690 loans, marking the impact of standard ARM applications taken before the Sep 30th program changes. We expect to see endorsements continue to be relatively strong for the next few months, but turn significantly lower toward the end of Q1 next year. New applications are falling well short […]
NRMLA’s annual convention is just around the corner. Since we want everyone feeling good and happy next week at the conference, lets look at the numbers on an annual basis, and see what kind of positive things we can find.
HECM endorsements dropped -15.9% in September to 4,527 loans in the beginning of what we expect to be a trend of falling volumes related to the FHA HECM program changes enacted earlier this year.
Based on case numbers issued trends (a proxy for applications) in the chart below, it’s pretty easy to see that the decline […]
HECM endorsements for August declined -6.5% to 5,382 loans. July’s total was increased by HECM Standard fixed rate volumes working through the pipeline, so we’re likely seeing a reset to a lower level given weakness in funding volumes starting in July. There is a 2 month lag time from funding to endorsement for most loans, […]
HECM endorsements for July 2013 totaled 5,756 loans, up 7.1% from June and 15.2% year to date. The increase of 48.8% from last July’s dismal level of 3,868 was even more dramatic, but that was also the start of a 6 month period with 4 of the lowest volume totals in recent memory (under 4,000 per […]
HECM endorsements rose 0.4% to 5,372 loans in June, finishing 3.6% above June 2012 level. Despite the very small increase in June, 7 of the 10 regions tracked were up, although notable exceptions were the top 2 regions (Southeast/Caribbean and Pacific/Hawaii).
Among lenders, consolidating volume for the merger of Security One Lending with RMS results in […]
HECM endorsements were down 7.2% in May to 5,352 loans and continuing a modest trend of weakness since the recent peak in March. Year to date volume is up 12.4%, while competition as measured by active lenders is up 3.0%
With the 4/1 moratorium on new applications for HECM standard fixed rate products, one of the […]
After a big improvement last month, HECM endorsements declined slightly in April to finish at 5,770 loans, down -1.2% from March. That figure was still good enough for 2nd highest in the past 12 months, behind only last month.
Regional volumes were mostly down, with 6 of the 10 regions declining.
HECM endorsements climbed 20.8% in March to their highest level since June 2011. That date is significant, in that it was the last month Wells Fargo was fully active in the industry, although their endorsements were reflected for a few more months after their exit announcement. Either way, it’s a significant hurdle for the industry […]
