HECM endorsement volume grew 9.9% to 3,197 loans in August. That’s the third lowest total in the past 12 months but importantly, it’s also the second month of growth since the June total of 2,838.
- All 10 regions were up on the month, with Mid Atlantic leading at 28.2%
- Southeast/Caribbean and Pacific/Hawaii are the two largest regions and were up the least, at 2.7% and 5.1%, respectively
Lenders had a less uniformly rosy picture, with 6 managing a gain and one unchanged
- Live Well jumped 29.8% to 170 loans, their highest total since January
- Finance of America Reverse increased 23.7% to 324 loans
- One Reverse rose 22.2% to 275 loans
We’ll finish up our recent series later this month with a look at some factors beyond endorsement counts that are ailing the reverse mortgage industry.
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.