For years, California has dominated the reverse mortgage scene accounting for nearly one-third of the total HECMs endorsed as recently as CY2006. Figures through September 2007, however, show that HECM endorsements in the Golden State have fallen sharply when viewed as a percentage of the total HECM activity.

Florida HECM production, meanwhile, continues to be strong and growing in 2007. Indeed, Florida appears poised to surpass California as the top state for HECM endorsements.

Here is a listing of the Top 10 states for HECMs over the last several years. Please note that all figures shown are on a calendar year basis and figures for 2007 are through the month of September.

Seven of the states in the Top 10 have equaled or exceeded their 2007 total HECM volume through just nine months of 2007. Texas and New York have not equaled 2006 totals yet, but are relatively close. Only California exhibits a dramatic shortfall.

For all the hoopla about the dramatic increase in reverse mortgage popularity in recent months, the falloff in California HECMs together with the recent slide in total HECM production should be cause for concern.

Please visit our free HECM Loan Data tool to analyze HECM reverse mortgage activity in more detail.

Social tagging: California HECM > California reverse mortgage > California Reverse Mortgages > HECM > HECM activity > HECM research > HECM statistics > MIC reports

A Few More Related Articles of Interest:

California Reverse Mortgage

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

HECM Activity on East Coast Surging

Reverse Mortgage San Diego

California Reverse Mortgage Lenders