HECM endorsement volume gained fractionally in May, up 0.4% to 3,359 loans. This is the biggest sign yet that HECM volume may have bottomed following the substantial program changes that took effect Oct 2, 2017.
The industry was mixed geographically in May, with 5 of the 10 regions showing gains:
- Southwest led the pack with 14.9% growth to 385 loans
- Southeast/Caribbean grew 14% for a close second on both growth and total volume
- New England managed a 12.6% gain after a disastrous decline in April
Lenders also showed a mixed performance, with 5 of the top 10 turning up for the month:
- Live Well jumped 26.3% to 144 loans
- Nationwide Equities grew 18.6% to 51 loans
- AAG rose 13% to 1,006 loans, more than tripling the closest contender
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.