Statistics from HUD for the first two months of 2006 show exceptionally strong growth in the number of HUD endorsed Home Equity Conversion Mortgages (HECM). In total, 11,398 HECMs were issued in January/February of 2006 compared to 7,296 for the same period in 2005 - a 56 percent rate of growth.

Sixty-four of the eighty-one HUD offices reported HECM growth while the remaining 17 offices had flat or negative trends.

Much of the strong growth is taking place in the Western and Sunbelt regions, although federal offices in Milwaukee (+104%) and Chicago (+92.5%) also reported very strong growth.

Detroit showed the sharpest drop-off with HECM loans declining from 288 in the first two months of 2005 to 203 in 2006 (-29.5%).

The following table shows HECM loan activity for all HUD offices:

HUD Endorsed HECM Loans - Thru February 2005/2006
	Federal Office	2005	2006	% CHG
1	CASPER	5	22	340.0%
2	HONOLULU	18	74	311.1%
3	FRESNO	127	422	232.3%
4	GREENSBORO	40	132	230.0%
5	TOPEKA	8	23	187.5%
6	PHOENIX	108	305	182.4%
7	CORAL GABLES	185	508	174.6%
8	TULSA	17	44	158.8%
9	ORLANDO	77	191	148.1%
10	KANSAS CITY	23	56	143.5%
11	TUCSON	17	39	129.4%
12	COLUMBIA	35	78	122.9%
13	JACKSONVILLE	46	101	119.6%
14	TAMPA	114	250	119.3%
15	ST. LOUIS	41	89	117.1%
16	MILWAUKEE	50	102	104.0%
17	KNOXVILLE	23	46	100.0%
18	CHICAGO	159	306	92.5%
19	SACRAMENTO	279	529	89.6%
20	BOISE	40	75	87.5%
21	LITTLE ROCK	15	27	80.0%
22	ATLANTA	87	154	77.0%
23	SANTA ANA	472	821	73.9%
24	MINN. ST. PAUL	99	171	72.7%
25	LUBBOCK	36	62	72.2%
26	SAN DIEGO	125	213	70.4%
27	HARTFORD	166	282	69.9%
28	NASHVILLE	12	20	66.7%
29	LAS VEGAS	114	190	66.7%
30	BOSTON	219	364	66.2%
31	LOUISVILLE	23	38	65.2%
32	HOUSTON	135	216	60.0%
33	INDIANAPOLIS	77	122	58.4%
34	SPRINGFIELD	19	30	57.9%
35	PORTLAND	146	228	56.2%
36	SEATTLE	151	230	52.3%
37	MEMPHIS	6	9	50.0%
38	SAN FRANCISCO	294	439	49.3%
39	RENO	38	55	44.7%
40	SAN ANTONIO	66	94	42.4%
41	MANCHESTER	43	61	41.9%
42	RICHMOND	140	198	41.4%
43	BANGOR	35	49	40.0%
44	FLINT	38	53	39.5%
45	PROVIDENCE	39	54	38.5%
46	NEW YORK	275	380	38.2%
47	LOS ANGELES	575	794	38.1%
48	ALBUQUERQUE	40	55	37.5%
49	FT. WORTH	108	147	36.1%
50	BIRMINGHAM	29	39	34.5%
51	WILMINGTON	16	21	31.3%
52	ALBANY	39	51	30.8%
53	BALTIMORE	150	196	30.7%
54	DES MOINES	25	32	28.0%
55	DENVER	268	343	28.0%
56	SHREVEPORT	11	14	27.3%
57	OKLAHOMA CITY	27	34	25.9%
58	NEWARK	166	209	25.9%
59	OMAHA	37	45	21.6%
60	CAMDEN	111	129	16.2%
61	DALLAS	128	146	14.1%
62	WASH. D. C.	147	166	12.9%
63	SALT LAKE CITY	90	101	12.2%
64	PHILADELPHIA	189	206	9.0%
65	CARIBBEAN	-	-	0.0%
66	FARGO	7	7	0.0%
67	SIOUX FALLS	11	11	0.0%
68	ANCHORAGE	4	4	0.0%
69	SPOKANE	17	17	0.0%
70	CINCINNATI	29	28	-3.4%
71	GRAND RAPIDS	94	89	-5.3%
72	PITTSBURGH	69	65	-5.8%
73	BUFFALO	70	65	-7.1%
74	CLEVELAND	128	117	-8.6%
75	BURLINGTON	18	16	-11.1%
76	COLUMBUS	35	28	-20.0%
77	NEW ORLEANS	40	32	-20.0%
78	JACKSON	17	13	-23.5%
79	HELENA	16	12	-25.0%
80	CHARLESTON	15	11	-26.7%
81	DETROIT	288	203	-29.5%
	Totals	7,296	11,398	56.2%

A Few More Related Articles of Interest:

Growth in HECM Loans

HECM Growth By State

HECM Market Comparison 10/31/2007 vs 10/31/2006

Reverse Mortgage Industry Growth

HECM Lender Comparison 10/31/2007 vs 10/31/2006