HUD’s August 2020 HECM Endorsement Summary Report shows a fourth consecutive strong print month, with 4,007 endorsements, our summary report of which can be found here: NV Endorsement 2020_08. For May, June and July, monthly endorsement counts were 5,038, 4,209 and 4,256, respectively. For comparison, there were just 2,341 endorsements a year ago in August 2019.
All major originators had strong performance in August including AAG continuing its lead with 1/3 of all endorsements. Compared to a year ago, Longbridge and Open Mortgage both increased endorsement originations by approximately 50%, each moving from approximately 2% to 3% market share.
HUD’s July Endorsement Snapshot Report is also now posted on its website. Fairway remains the commanding leader, originating 1,572 loans sponsored by another party over the last 12 months, followed by Ennkar, Finance of America, All Reverse Mortgage and Advisors Mortgage, each originating more than 400 such loans during the period. FAR sponsored 4,730 loans originated by another party during the last 12 months, followed by Liberty, RMF and AAG. Each sponsored more than 2,000 such loans over the course of the year.
(Editor’s note: The following was republished with permission from New View Advisor.)