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Last month in this report we talked about two pleasant surprises on the volume side, which leaves us talking about a drop-off this month in HECM volume – albeit in the less hopeful of our two surprises. July saw HECM endorsements drop to 3,868 loans, down -25.4% […]
HECM endorsements rose 16.9% to 5,187 in June, partly on the back of increases from both Metlife and First National Bank of Layton, both of which have announced exits from the industry. We expect Metlife in particular to start showing significant volume declines in July and August, some of which won’t be replaced by increased […]
HECM endorsements were down -3.4% in May to 4,439 units, flirting with the multi-year lows we saw in March. As we’ve noted before, we do think it’s likely we’ll see lower volumes play out through the end of summer based on Metlife’s announced exit from the industry. May is an extension of weak application volumes […]
The past few days have been dominated by Metlife’s exit announcement, but regardless of how you feel about that news the impact on industry numbers simply hasn’t been felt yet. We mean that in the best possible way, as April endorsements rose 4.9% to 4,595 loans after the horrible, no good, very bad month in […]
We said last month that we didn’t expect endorsement volumes to continue their good times given the declines in case number assignments and this month underlined the point. March endorsements totaled 4,381 loans, down -19.3% and the lowest level since September 2005.
This marks […]
Our first look at February HECM endorsements is here and it’s a positive story, although not one we expect to last too long. Endorsements were up 4.9% in February to 5,426 loans and the highest level of the past five months.
Six of the ten regions we track were up from January, with the biggest gainer […]
If your New Years resolution was to produce more loans in 2012, then you had lots of company along for the ride. January HECM endorsements totaled 5,175 loans, the highest level since September and up 11.6% from last month. On the pessimistic side, Oct-Dec are the only months lower than this total in the past […]
Happy New Year! 2012 may yet become a fantastic year or a dismal one, but the best thing about this year is the vast potential presented by an entire year stretching out in front of us.
December finished on a modest down note, with HECM endorsements down -0.4% from November to 4,636. Active lenders increased 4.4%, […]
November HECM endorsements totaled 4,654, up 1 loan from last month. The lack of change in industry overall volume is remarkable considering the second shoe dropped on Wells Fargo’s expected volume decline. Last month we were very worried about the Wells volume decline given that last […]
We’ve known for some time now that Wells Fargo’s endorsement numbers would drop dramatically as we headed toward the end of the year – now we have our first month’s view of the industry ex Wells.
HECM endorsements for October were down -16.8% to 4,653, the lowest total since the industry bottomed out in May 2010 […]
