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HECM endorsements jumped 24% in June as borrowers rushed in before Financial Assessment rules would apply to their loans (all case numbers issued after April 4). This growth fueled solid gains for several top ten lenders:
HECM endorsements fell 5% to 5,029 loans in July, but still represent the second highest level of the past 12 months trailing only last month’s surge.
Several lenders showed big swings as well:
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.
HECM endorsements dropped -4.9% in May, with wholesale/brokers bearing a slightly larger share of the decline at -5.4% compared to retail/direct at -4.6%. There were some large declines for some top ten lenders, but as always there were winners too:
There are many ways to break a down trend, but few are better than the 23.9% growth in HECM endorsements seen in June. Overall volumes are still a bit low compared to just a few years ago at 5,296, but still good enough for the highest level since August 2013 – before initial utilization […]
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.
April marked the fourth month in a row with a split in business channel growth for the reverse mortgage industry. For April, Retail declined -6.3% and Wholesale grew 1.7%. All in a month where endorsements declined -3.1%, with declining volume also being a trend in its fourth consecutive month.
But of course, a slow decline over […]
HECM endorsement volumes declined for the fourth month in a row, declining -5% to 4,273 loans in May. That’s the lowest level since September, but the good news is that it’s still higher than each of the four months ending last September. Industry volume has dropped noticeably from the recent peak in January but we’re not in […]
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:
In February, the wholesale channel increased HECM endorsements in a down month for the industry overall, and now in March’s HECM Originators reports we’ve seen the exact opposite with retail outpacing brokers dramatically. Adding the two months together it’s clear that retail got the best of the action – dropping just 102 loans from a much higher […]
