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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.
HECM endorsements continued their slow drift downward in September, falling 1.75% from August numbers.
Only one of the ten HUD regions added volume in the month, with volume in the Mid-Atlantic region increasing 13% to 191 loans. Two regions (Rocky Mountain and Southwest) had volumes stay flat.
Reflecting the relatively unchanged industry volume, half of the top […]
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:
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:
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.
Last month we weren’t depressed by incredibly low April HECM endorsement numbers, and this month we look at the figures as catching up rather than some new trend.
HECM endorsements more than tripled in May, leaping 214.7% to 5,038 loans. Averaging April and May figures together would have the industry at 3,320 loans per month, just […]
The coronavirus pandemic has distorted many numbers, and we can add one more casualty.
HECM endorsements crashed -45% in April to 1,601 loans, lower than the low put in Dec 2018 (1,751) after the last round of PLF and rate floor changes from HUD. While we’d normally be very concerned about this level of drop, we […]
HECM endorsements declined -14% in February, continuing the decline seen in February..
None of the 10 regions we track were up on the month, with only one (Northwest/Alaska) unchanged for the period.
One a better note, three of the top ten lenders saw volume increases:
HECM endorsements declined -13.6% in February, moderating the blistering January pace but still well above levels from early 2019.
Just 3 of the 10 regions we track were up on the month.
HECM endorsements started the new decade off with a bang, rising 59.2% to 3,919 loans. That’s the highest monthly total since February, which was artificially boosted by the catch-up from a partial government shutdown late in 2018.
All 10 of the regions we track were up, the second consecutive month that all regions moved in […]
