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Last time in the HECM Trends report we wrote about Nevada bouncing back from the housing crash with growing HECM endorsment activity and this month Sacramento is our focus.
California’s capitol city and suburbs don’t feature much on page one of our report, except […]
HECM endorsements declined modestly in November after a big rise in October, split almost evenly across business channels. Retail originations declined slightly more, down -9.8%, than wholesale/broker volumes at -8.2%.
Lender volatility was a little more significant although still relatively muted as […]
HECM endorsements were up 29% in October, higher than each of the last two years for that month and even October 2011. This month we’ll dive into the state of Nevada to look behind the 25% increase in endorsements Jan-Oct and see how the state is shaping up.
Of the 96 zip codes with volume in […]
October started off the fourth quarter strong for HECM endorsements, rising 28.9% to 4,851 loans. That rise was led by brokers, as the wholesale channel grew 37.3% compared to an only slightly less impressive 23.4% for the larger retail/direct channel.
December HECM endorsements grew 12.1% to 4,942 loans, marking the highest monthly volume since February. With the full year of 2014 now in the books, it looks almost decent with the exception of a nasty stretch from June-September that reflected the volume drops related to FHA’s 9/30/2013 changes to the HECM program (primarily the initial […]
HECM endorsements declined -9.1% in November to 4,410 loans but retained most of the big gains from October. Given this somewhat expected pullback we’re not expecting 2014 to exceed 2012’s calendar year total of 52,993 as that would take a December volume of 5,181 loans which would be the highest so far this year and seems […]
One of the interesting items (among many!) in our HECM Trends newsletter is the year over year comparison of HECM endorsement volumes at the top of page 1. In this month’s version, you can see that September came in right on top of 2012’s total which is interesting given that year is the […]
Just as a rising tide lifts all boats, so the increase in HECM endorsements in September spread the growth virtually identically across the Retail/direct and Wholesale/TPO channels. The overall industry grew 15.8% to 3,762 loans after the disastrous levels reached in August, with Wholesale gaining 15.9% to Retail’s 15.6%.
November 1 traditionally marks the return of the NBA to our living rooms, but more importantly this year also saw a big jump in the number of HECM endorsements reported for the month just ended. October rebounded to 4,852 loans, up 29% to the highest level since February.
In a jump that big, many lenders and […]
In spite of the ugly chart at the top of page 1 showing August endorsement volume falling off the cliff compared to the last 2 years, there’s always a bright spot. In this case, Florida is showing up in our rankings with growing maximum claim amounts (MCA) on page 2:
