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Chart of the Day: HECM Initial Principal Volume is On the Rise

The following chart, originally published in Inside Mortgage Finance, charts the volume of initial loan amounts extended to HECM loan borrowers over the course of five quarters.

The first quarter of 2011 saw a 4% increase over the previous quarter, while falling short of the first quarter total in 2010 by 4.7%.

Chart: HECM Initial Principle Quarterly Volume

With HECM volume down overall, the trend may represent the fact that loan limits are higher currently, and allow individual borrowers to draw more from their loans.Written by Elizabeth Ecker

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