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HECM Endorsements Drop To A New Low Since October 2017 Changes

HECM endorsements have dipped to a new low, with all top performers seeing declines across the board. The 17.4 percent drop in November marks a record low, following changes to HECM rules in October 2017.

"According to the HECM Lenders report from Reverse Market Insight, Federal Housing Administration (FHA)-approved lenders endorsed 2,553 loans in November, 2018," according to Reverse Mortgage Daily.

There are a number of different influences that have impacted the extreme drop in HECM endorsements, according to John Lunde, founder and president of Reverse Mortgage Insight.

“When and how low the bottom might be for HECM endorsements depends a lot on how much of the drop is due to proprietary loan strength versus consumer disinterest in the value proposition of the loans at the current principal limit factors (PLF) and cost levels,” he said, according to RMD.

To learn more about the record low HECM endorsements, click on the image above.

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