HECM Endorsement Analytics – June 2020

HUD’s June 2020 HECM Endorsement Summary Report shows another strong print with a total of 4,209 endorsements, our summary report of which can be found here: NV Endorsement 2020_06. June is lower than May’s 5,038 count, but as mentioned previously the last two months’ volume figures have been skewed by disruptions caused by COVID-19. During the six months prior to the pandemic, average monthly endorsements ran slightly over 3,000 units per month.

Based on 12-month endorsement totals, there is little change in the ranking of top lenders. Of note, High Tech Lending saw a sharp increase in volume, to 169 units from last month’s 24. One Reverse Mortgage had just 1 endorsement as it winds down business.

HUD’s May Endorsement Snapshot Report is now available on its website. The report echoes last month’s Endorsement Summary Report and displays a strong rebound in activities from April to May across the board.

Refinance volume continues to ramp higher. After taking a breather in May, the refinance endorsement count reached 891, the highest monthly total since January 2018. Refinance volume accounts for about 18% of all endorsements, a trend that started in late 2019.

Edited samples from this month’s WBWFW report are again at the end of our endorsement writeup. Our WBWFW reports provide accurate insight for sales and marketing teams to learn who’s buying what from whom. The dataset is more complete and timely than what endorsement analysis alone can show.

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