1 Comment

1. 

   The_Cynic

   June 1, 2015 at 12:05 pm

   Not one of the HECMs endorsed during May 2015 was required to go through financial assessment (simply because no HECM can go from case number assignment to endorsement in 35 calendar days). Yet the endorsement count for the month when compared to May 2014 and worse the year to date cumulative total is also down.

   Endorsement counts were supposed to be better for those months before we began seeing HECMs with case numbers assigned after financial assessment was implemented (after several delays, April 27, 2015). So what is happening?

   While the cumulative total for fiscal year to date are better than this time last year, the difference is less than 700 endorsements in an eight month time period. This lead over last year is expected to evaporate before fiscal year end, making fiscal 2015 the worst year for endorsements since fiscal 2005. That is only 6 months short of the time in which I have been in the industry.

   But do not get too excited, fiscal and calendar 2016 are expected to show fewer endorsement totals than those same time periods for 2015. The question is will 2016 be the bottom of our continuing slide?

   • Reply
   • Link