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It’s pretty eerie how closely the volume trend line for 2015 has followed 2013 over the past 3 months – see the top of page 1 of this month’s HECM Trends report below by clicking the image. That won’t hold up for November’s volume, but if December shows a tick upward that would be the best […]
HECM endorsements dropped considerably in September, but remained above 2013 and 2014 levels for the same month. Thanks to the past 4 months industry volume is running 13% ahead of last year’s first 9 months, but the tough comparisons are ahead: just as volume picked up in Q4 last year, this year we’re expecting […]
HECM endorsements hit a high water mark in August, reaching 5,749 loans. That was higher than 2013 and 2014 for August, and overall was the highest volume level since March 2013.
HECM endorsement volumes took a breather in July, down -5% from June. Even with the decline, volumes remained above year ago levels and it showed in the increased growth rates for several areas:
HECM endorsements saw a big jump in June thanks to borrowers acting ahead of Financial Assessment implementation: applying and receiving a case number prior to April deadline, even through loan funding and endorsement happens later.
And we certainly saw some varied performance among states and cities:
For the country as a whole HECM endorsements declined -1.9% in the year through May, but as always some areas of the nation are doing better than that and/or have picked up the pace since last month.
April HECM endorsements were down a little from March but higher than a year ago, which brings the year to date tally to just -1.1% lower than last year. That figure was -3.6% in March and -5.5% in February, so on that front at least the trend is headed the right direction.
HECM endorsement volume dropped -1.7% in March, but that was less than the drop a year ago so the year to date volume decline moderated to -3.6% (it was -5.5% as of Feb). That volume decline was spread unevenly throughout the country:
Two months into the year HECM endorsements are down -5.5% from last year’s comparable period and slightly less so from the weak start in 2013. This early in the year things can shift around considerably and February was no exception.
It’s always fun to look at year to date results for the first month of the year because we’re effectively comparing January with last January. On the one hand, any single month comparison is noisy and potentially misleading since endorsements are typically less managed than applications or funding. On the other, it’s useful to think about […]
