According to figures recently released by HUD, the number of HECM reverse mortgages endorsed during the month of August was down 14% from July, once again repeating the “up-down” alternating monthly pattern evident since February of this year. Still, the August total of 9,006 HECM endorsements represents only the fifth time that monthly HECM totals have surpassed the 9,000 mark and is a 46% increase over the number of HECM reverse mortgage mortgages endorsed in August 2006.

Total HECMs endorsed so far in 2007 are 75,904 a 39% increase over the 54,512 HECMs endorsed in the first eight months of 2006.

Wells Fargo continues to the top HECM lender, having issued 15,261 HECM during the first eight months of 2008. We’ve noted previously that Wells’ position as the top HECM lender faces a strong challenge from Financial Freedom. A complete list of the Top 25 HECM Lenders through August 2007 appears below:

In terms of geographic dispersion, the following table shows the Top 25 areas for HECM loan production. California and Florida markets continue to capture the top spots.

You can find out more about HECM trends using our free online HECM Loan Data Analysis tool.

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A Few More Related Articles of Interest:

HECM Activity Shows Moderate Rebound But Still Disappoints

July is Second Best Month Ever for HECM Endorsements

2007 HECM Numbers

Heatmap Compares HECM Activity: 2007 vs 2006

California HECM Activity Down