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It’s always more fun to report good news (since no one shoots the messenger in these cases!) and August continued a welcome trend higher in reverse mortgage business volumes. Endorsements were up 12.6% from July, again coming in ahead of increases in competition since the trough in May.
We also saw modest success in applications, coming […]
We’re a few days behind our usual schedule as we enjoyed a quick trip out to Dallas for Reverse Mortgage Day in Texas. As always, it was very well organized and if you were busy networking in the halls or didn’t attend, you can find our presentation on current trends in the reverse […]
Most years you want to see some good news before you’re six months in, but given all the headwinds for the industry we’ll take our wins where we can get them. June marked the first growth in HECM endorsement volumes in 2010, finishing with 5,304 and up 16.5% from May’s dreadful levels. Sure, the […]
We suggested in last month’s report that we expect endorsement volumes to get worse before they get better, and May certainly proved that point. It would have been more fun to be wrong in this case: May volume came in at just 4,554 loans, down 17% from April and the lowest monthly volume since […]
As we saw last month, the downtrend in application numbers is finally starting to significantly impact endorsement numbers. That trend has continued in April, with overall industry numbers down to 5,511 units, dropping 5.3% from March.
Thankfully (if you’re among the survivors), there was an even greater decline in active lenders (down 7%) […]
HUD published the monthly endorsement numbers on Thursday, and we are finally really starting to see the effects of the lower level of application on endorsement volume. Overall industry numbers for March came in at 5,822 units, down 17% from February. For the first quarter, overall volume fell 32% versus Q1-09.
No region was spared, […]
The retail endorsement numbers for February 2010 are now available. Endorsement volume came in at 7,024 units for the month, a 7.9% drop from January, and a decline of 22.7% from last year. It seems like each month we’re reaching further back for a comparable volume period – we have to go all the way […]
The retail endorsement numbers for the January 2010 are now available. Endorsement volume came in at 7,629 units for the month, an 8% drop from December 09, and a decline of 22.6% from January of last year. We have to go all the way back to October 2006 to see a lower endorsement number.
Some highlights […]
The December 2009 endorsement data has been put out by HUD, bringing us to the conclusion of a tumultuous year in the reverse mortgage industry. Endorsement volume climbed 7% from November levels to 8,284 units. Volume for the year ended at 111,924 endorsements, a 2.8% decrease from 2008.
The fourth quarter was significantly weaker than the […]
November’s endorsement numbers are in and the volume was pretty weak, coming in at 7,738 units for the month. This is down almost 12% from October, and 34% from the peak volume month of April 2009, and just to pile on the misery, is the lowest volume month we’ve seen since September ’07.
Year to date […]
