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We already know that April HECM endorsements dropped off a cliff and recovered in May, which strongly suggested that April’s volume had a lot of other factors than a drop in HECM lending behind the decline.
We now have more detailed data to confirm just how noisy the month was, so rather than analyze it we’ll just publish our usual report for now and wait for detailed data on May to make a more substantive analysis.
March bounced back from the short February, rising 16.3% to 2,117 loans, although that remains below every month since August (if we average Oct/Nov due to the shutdown). That continues
February is a short month every year, which also typically means fewer HECMs endorsed. Last month was no exception, dropping -20.7% to 1,821 loans, but the size of that drop
The good HECM news is that endorsements grew 5% last month to 2,295 loans. The bad news? Both December and January were well below the figures from a year ago,
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