HECM Endorsements Were Down 6% In August 2020 – NMP
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HECM Endorsements Were Down 6% In August 2020

Oct 23, 2020
Person analyzing data charts.
A headshot of Navi Persaud
Director of Events

Reverse Mortgage Insights' breakdown of Home Equity Conversion Mortgage activity for August 2020 showed a 6% decline in endorsements for August 2020. This marks an end to four consecutive months of 4,000+ loans for the first time in a number of years, according to the RMI report.

Wholesale endorsements saw a 6.5% decrease and the retail side saw a 5.6% decrease. While overall numbers are trending downward, some of the top lenders actually saw gains in August 2020.

According to RMI, Longbridge added 499 loans, a 31% increase for the month. Meanwhile, Open Mortgage saw a 28.8% gain with 179 loans and Mutual of Omaha increased 15% with 246 loans.

Click here to see how other HECM lenders performed in August 2020.

About the author
A headshot of Navi Persaud
Director of Events
Navi Persaud is Director of Events at NMP.
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Published
Oct 23, 2020
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