April’s HECM endorsement count dropped to 1,963 loans. As expected, last month’s high count was due to nothing more than AAG clearing its backlog. This month the report shows no endorsements from AAG, without which the trend of declining HECM production continues. Our full report can be found here: NV Endorsement 2023_04.
HUD’s March Endorsement Snapshot Report was just released on its website. HECM to HECM refis dropped to less than 10% of all endorsements for the first time since September 2019. Also of note, Fairway Independent Mortgage Corporation production has dwindled to just eight loans this month. For years, Fairway was the lead wholesale originator (originating loans sponsored by another party).
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