HECM endorsements dropped -6.1% to 5,036 loans in April. Any drop is negative, but in this case the decline still puts the industry at the second highest level in the past 12 months – with only March having a higher showing.
It also adds a little credibility to March’s volume level, since any single month can be heavily influenced by one or two larger lenders catching up on endorsements. In this case, even averaging March and April together produces a volume level well above the prior monthly pace, which can be cautiously interpreted as actual growth in the HECM space…
On that note, on to the details:
- Just 2 of the 10 regions increased in April: New England jumped 17% to its highest volume in the past 12 months, while Mid-Atlantic rose 3% to top last month’s recent high water mark
- One Reverse led the way among our top lenders, rising 3.2% to 261 loans
- RMF managed a 0.3% rise to 364 loans
If your company is FHA approved check out the rankings on page 5 of the report below. If your company is not FHA approved, watch out for our next edition of HECM Originators to find your ranking!
Click the image below for the full report.
