Endorsement count continues to trend lower in 2024. In February only 1,900 loans were endorsed, notably lower than the 2,153 loans in January. February marks the first time monthly endorsement count dropped below 2,000 since March 2023. Our full report can be found here: NV Endorsement 2024_02.
HUD’s December Endorsement Snapshot Report was just released on its website. This report now lags the Endorsement Summary report by two months. Refinance accounts for barely 5.4% of all HECM endorsements, a level last seen in late 2018 and early 2019, before the precipitous interest rate drop brought about by the pandemic.