Skip to main content

HECM Endorsements Fall 5.9% In August

Sep 03, 2020
Analyzing chart.
Director of Events

Reverse Mortgage Insights' August 2020 edition of its home equity conversion mortgage lenders report showed a 5.9% decline in HECM endorsements, dropping to 4,007 loans. However, the report still claims that reverse mortgage volume has remained strong during the pandemic. 
 
According to the report, four out of the 10 regions around the country saw an increase in volume in August. The Midwest's volume increased by 13.6% to 242 loans, New England increased by 10.1% to 120 loans and NY/NJ and Great Plains increased by 4.8% and 1.5% respectively, according to Reverse Mortgage Insights
 
As for the top 10 lenders in the country, four out of 10 showed increases in loans. Longbridge notched its second consecutive monthly volume record, increasing 38.2% to 275 loans. Open Mortgage saw a 28.1% increase to 178 loans and Mutual of Omaha Mortgage increased 15.5% to 246 loans. 
About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Sep 03, 2020
More from
Reverse
CMG Financial Boosts Its Reverse Division With New Leader

Kari Van Kleef joining a growing team of reverse mortgage professionals

Sep 06, 2024
Norcom's Former Reverse Mortgage Team Joins Supreme Lending

Having brokered-out reverse loans historically, the move adds a new channel to the Texas-based lender's offerings.

May 14, 2024
Rising Rates Reduce Reverse Mortgage Payouts

High rates also reduce how much one can borrow against their home equity, AARP reports.

Apr 12, 2024
CFPB Issues Warnings On Reverse Mortgage Marketing

Says it is working with state regulators to ensure fairness in advertising and teach consumers where to go for help.

Aug 15, 2023
Movement Mortgage Expands Into Reverse Mortgage

South Carolina mortgage company hires industry vet to run the operation

Aug 02, 2023
PHH Mortgage Signs Subservicing Deal With Finance of America Reverse

PHH, a subsidiary of Ocwen Financial, says deal offers opportunity to grow its reverse subservicing portfolio.

May 05, 2023