Reverse mortgage endorsements rose 18.5% in November, marking the best volume month since June, according to the latest report from Reverse Market Insight.
The increase marks a jump from the 4,436 endorsements for the month of November, compared to October’s total of 3,745.
The month also marks across-the-board regional increases with highlighted growth placed on the East Coast.
New York/New Jersey, Mid-Atlantic, and New England regions posted the strongest monthly gains since October, increasing 54%, 41% and 28%, respectively.
Additionally, the top three regions of Southeast/Caribbean, Pacific/Hawaii, and Southwest all increased more than 10%.
Five of the top-10 lenders more than doubled in endorsement volumes year-to-date. Among the highest growth rates on a yearly basis are Sun West Mortgage at 256%, Security One Lending at 159%, and The First National Bank with a volume increase of 130% since November 2011.
Written by Jason Oliva
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With October 2012 the worst monthly endorsement total in years and November 2012, the worst total for any November in years, fiscal 2013 is off to a shaky start. The inventory of applications with case number assignments for the next two months does not look good.
But again as to endorsements some lenders could do very well this fiscal year.
>>>and The First National Bank
… Proficio Mortgage