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March HECM Production Falls From February Record

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Home Equity Conversion Mortgage (HECM) figures released by HUD show that 9,663 HECMs originated during March 2008, down 11% from the record 10,913 HECMs endorsed in February

The 12-moving average fell from a record high of 9,249 in February to 9,147. On an annualized basis, 109,765 HECMs were originated in the twelve months ended March 2008.

Still, March 2008 represents the sixth best month ever for HECM output.

For more HECM statistics and analysis, visit our HECM database tool.

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