In the first report of 2013, HECM endorsements were up 32.6% to 5,189 – the highest level we’ve seen since last February. It’s possible that the increase was due to a catch up from prior months that were depressed due to FHA system issues, but in any event it puts a rather welcome positive note for the new year.
All 10 regions were up from last month:
- Southeast/Caribbean grew 36% to a 12 month high
- Rocky Mountain also had a 12 month high at 263 loans, up 32%
- Mid-Atlantic grew the fastest at 45%, edging out Southwest for third place in January
Among lenders 7 of the top 8 (Metlife and FNB Layton excluded) were up
- Liberty Home Equity Solutions (the lender formerly known as Genworth Financial Home Equity Access) was up 33% and a number 2 ranking for past 12 months and tops for the month of January
- Security One increased 53% to 646 loans (second most in the month)
- American Advisors Group grew 91% to 540 loans (third for January)
HECM Originators and HECM Trends are expected back shortly (hopefully in the next week or two), but have been unavailable
Please click the image below for the full report.
