Category Archives: HECM Lenders

HECM endorsements inched up in March, rising 3.8% to 4,220 loans.

Growth was found in several regions, including the largest region rising to a new recent high:

• New England added 31.4% to finish with 113 loans, with HECM volume rising almost as much as Patriots free agency spending levels!
• Mid-Atlantic grew 20.5% to 235 loans
• Pacific/Hawaii rose 11.9% to […]
  

HECM endorsements eased off a bit from January’s level, falling -10.4% to 4,066 loans. Part of this is due to a shorter month with only 19 working days. For comparison, February 2020 was down -13.6% from January 2020.

Regions around the country didn’t have any good news to offset the top level decline either, with only […]

HECM endorsements started the new year with a bang, rising 10.8% to 4,539 loans. That’s the highest since the surge in May as endorsements caught up from the COVID-remote working transition lull in March and April. Quite the positive start for the year!

For the second straight month we saw 8 of the 10 regions increase […]

HECM endorsements finished 2020 well, rising 15.1% to 4,097 loans.

It was quite the roller coaster for everyone last year and the reverse mortgage industry was no different.

• We ended less than 5% changed from the monthly volume in January
• April saw just 1,601 loans endorsed (-59%!) as the pandemic impacted operations at lenders and HUD processing centers
• May […]
  

HECM endorsements continued their slow trickle downward, losing -4.7% in November to end the month with 3,561 loans.

Four of the ten regions grew, but they tended to be the smaller volume areas.

• Great Plains is the smallest region by volume but showed the biggest increase, rising 26.2% to 53 loans
• Midwest gained 8.8% to finish at 223 […]
  

HECM endorsements dropped -5.1% in October, ending the month with 3,737 loans.

Geographically, the industry had its two largest regions post declines while half of the remaining regions showed mostly small gains.

• New York/New Jersey was the notable exception, notching a strong 27.8% jump in volume to 193 loans
• Rocky Mountain rose 1.5% to 461 loans
• Southwest and Mid-Atlantic […]
  

HECM endorsements declined -5.9% in August to 4,007 loans, as reverse mortgage volume continues to be strong in the pandemic era.

Four of the ten regions around the country added volume in the month:

• Midwest rose 13.6% to 242 loans
• New England increased 10.1% to 120 loans
• NY/NJ and Great Plains grew 4.8% and 1.5%, respectively

Among lenders, 4 of […]

HECM endorsements grew 1.1% in July to 4,256 loans, lending further credibility to the increased volume levels since initial pandemic slowdowns in endorsement processing for March-April were overcome.

Six of the ten regions around the country grew in the month:

• New England paced the pack, rising 11.2% to 109 loans
• Southeast/Caribbean jumped 9.3% to 751 loans
• Great Plains gained […]
  

HECM endorsements fell -16.5% in June from a inflated May total artificially by the backlog from April, but still registered the second highest monthly total in a year.

June was 7.4% above the next highest month (January) and underlines the increased activity many lenders have been discussing since shortly after the pandemic started.

• Just 1 of the […]