July saw 10,462 Home Equity Conversion Mortgages (HECM) endorsed by HUD making it the second best month on record for HECM endorsements. (10,888 HECMs were endorsed in March 2007.)

For all of 2007, a total of 66,898 HECM reverse mortgages have been endorsed - a 41% jump over the 47,285 HECM loans endorsed in the first seven months of 2007. For the 12-month period ended July 2007, 105,252 HECMs were endorsed, a 47% increase over the 71,650 loans endorsed in the 12-month period ended July 2006. On average over the last 12 months, 8,771 new HECM loans have been endorsed each month.

You can also use our HECM loan data tool to analyze HECM endorsement data further. The database now includes HECM loans endorsed between September 2001 through July 2007.

Following is a breakdown of 2007 HECM activity by federal office location:

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A Few More Related Articles of Interest:

HECM Endorsements Surpass 10K in March

Annual HECM Activity Surpasses 100K for First Time

Heatmap Compares HECM Activity: 2007 vs 2006

August HECM Figures Released

HECM Activity Shows Moderate Rebound But Still Disappoints