After several months of report format changes, limited access to data and other issues, it now looks as if HUD has settled into a routine for release of it’s monthly HECM activity reports. These are the reports that we use to update our searchable HECM loan database that many visitors use. We’re pleased to report that the database is now current through January 2007 and that HUD has set up a system to make this data freely accessible to anyone in the future.

Once upon a time, the HUD HECM activity reports were made available to the National Reverse Mortgage Lenders Association (NRMLA) who posted the data (in static .pdf file format) on their website. The information was freely available from the NRMLA website until about seven months ago when they decided to restrict access to “members only”.

We contacted HUD to find out how we could obtain our own copy of the data (since we’re not reverse mortgage lenders nor members of NRMLA). That apparently started a discussion among HUD officials, some of whom were not aware that the reports were being provided to NRMLA. Concern was expressed by some officials about details contained in the reports which led to further delays as the reports underwent reformatting. For awhile, getting the monthly data was excruciating taking several phone calls and e-mails.

Happily, HUD has now decided to post monthly HECM endorsement reports (in .txt format) on its website. This is fair to all and we applaud HUD for taking this step to ensure open access to public data. The report for January 2007 was posted on the HUD website on February 2, 2007. If this is indication of what we’ll see in the future, our searchable HECM Loan Database will be able to be updated in a much more timely fashion from now on.

A Few More Related Articles of Interest:

January HECM Activity Rebounds

July is Second Best Month Ever for HECM Endorsements

2007 HECM Numbers

Hottest Reverse Mortgage Lenders

Special Offer for Reverse Mortgage Professionals: Free HECM Loan Data