HECM Endorsements Surpass 10K in March
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HUD has released its HECM activity report for March 2007 and, for the first time, the number of monthly HECM reverse mortgage endorsements has exceeded the 10,000 mark (10,888, to be exact). For the twelve months ended March 31, 2007, HECM endorsements totalled 96,312 - a 75% increase over the twelve month period ended March 31,2006. On a calendar year basis, the first quarter of 2007 saw 29,061 HECMS endorsed - a 58% increase over 1Q 2006 which saw 18,388 HECM endorsements.
Moreover, as the following chart shows, monthly HECM loan growth continued to steadily outpace its 12-month moving average for a nineteenth consecutive month:
The last time monthly HECM loan growth fell below the 12-month average was July 2005. For more up to date HECM loan activity statistics, visit our HECM Loan Data tool.
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November 12th, 2007 at 7:04 pm
2 questioons: 1st why have you not yet posted the HECM edorsements for October? and 2nd, the numbers for Stay In-Home seem to be correct for Sept. YTD @ 549 loans but for the month of Sept. wrong @ 18…we actually had endorsements in the higfh 50″s???