Skip to main content

Report Finds HECM Endorsements More Than Triple In May

Navi Persaud
Jun 02, 2020
Older hand being held by younger hand.

Home Equity Conversion Mortgage (HECM) endorsements more than tripled in May 2020, jumping 214.7% to 5,038 loans, according to the latest Reverse Mortgage Insight HECM Lenders report. This figure is just under the February reading, and is greater than the April and May average of 3,320 loans.
All of the nation's 10 regions saw an increase in HECM endorsements, with the Rocky Mountain Region seeing the largest average percent change at 48.3%. The Northwest/Alaska territory followed with an average change of 48%. In addition, six of the 10 regions are above their June-March averages. 
American Advisors Group led the group of top 10 HECM lenders, jumping from 537 endorsements in April 2020, to 1,726 endorsements in May 2020. Open Mortgage is 90.2% above their prior average, according to the report. Fairway Independent Mortgage Corporation has been charging forward and is now 62% above their previous average.  
RMI stated that it is looking at these numbers as catching up, rather than a new trend, in HECM endorsements.
Click here to view more from the RMI HECM Lenders report.

Jun 02, 2020
More from
HECM Endorsements Plummet More Than 14 Percent

Home equity conversion mortgage endorsements plummeted 14.3% in August 2021 to 3,679 loans.

Sep 14, 2021
Reverse Mortgages Aren't Expanding Into Broader Mortgage Business

The reverse mortgage sector has remained strong accounting for more than 4,000 loans a month, according to Reverse Mortgage Daily, however, growing the business further has been on the back burner.

Jul 28, 2021
FHA Adds COVID-19 Recovery Options For Forward And Reverse Borrowers

The Federal Housing Administration announced additional COVID-19 recovery options to help both forward and reverse homeowners who are facing hardships as a result of the pandemic.

Jul 26, 2021
RMF Revamps Its Borrower Qualification Process To Increase Efficiency

Reverse Mortgage Funding, LLC (RMF) is taking a new approach to the borrower qualification process for those seeking a reverse mortgage. The process was created to drive efficiency during the approval process and increase reverse mortgage market growth.

Jul 20, 2021
Reverse Mortgage Endorsements Slide By More Than 4 Percent In June

Reverse mortgage endorsements decline by 4.4% to 4,160 loans, increasing the streak of more than 4,000 loans per month, according to Reverse Mortgage Daily.

Jul 06, 2021
Liberty Reverse Mortgage Becomes Full Service Reverse Lender Following RMS Acquisition

Last week Ocwen Financial Services announced the acquisition of Reverse Mortgage Solutions. In a recent interview with Reverse Mortgage Daily, Mike Kent shared how the acquisition will affect the company.

Jun 22, 2021