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May Top 100 HECM Lenders Report
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1 comment
It used to be considered a slight mark of distinction being included in the top 100 list of HECM lenders. The only thing keeping lenders off the list now is not even having one HECM endorsement in the month.
As the total HECM endorsements for April 2023 were the fourth worst such total since January 2004, the total HECM endorsements for May 2023 is the fifth worst such total since January 2004.
I was quite surprised to hear the HECM endorsement total last month was the worth total for any May since May 2003.
Based on annual totals, fiscal 2023 is likely to be the worst or the second worst fiscal year for HECM endorsements since fiscal 2003.
Now consider that this is the first year following our highest fiscal year for HECM endorsements since fiscal 2011. As the adage goes, what a difference a year makes.