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June Top 100 HECM Lenders Report
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The total HECM endorsements for just the NINE.months ended 6/30/2022 was over 50,600. That total is greater than the HECM endorsements for any of the four fiscal years that preceded 10/1/2022. Those fiscal years were the twelve consecutive month periods that ended
1. 9/30/2018,
2. 9/30/2019,
3. 9/30/2020, and
4. 9/30/2022
Since the endorsements for June largely result from HECM applications with case number dated before April 1, 2022, we can safely estimate that total HECM endorsements for this fiscal year will exceed 62,000 (and most likely 65,000), making fiscal 2022, the highest year for HECM endorsements since fiscal 2011, eleven years ago
Yet fiscal 2023 will no doubt end with HECM endorsements of less than 38,000 due to an expected decline in HECM Refi endorsements.