HECM Applications See Slight Uptick in August With Steady Saver Growth

HECM applications rose 3.9% in August to 7,940, marking an 18% year-over-year decline when compared with August 2010, the latest Federal Housing Administration Outlook from the Department of Housing and Urban Development shows.

Total HECM endorsements were up 5.3%, with HECM Saver endorsements rising more than 8% during the month, from 496 in July to 536 in August.

Chart: HECM Saver Market Share 2011


HECM Saver Market Share 2011

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Despite ups and downs for endorsements throughout the year, the HECM Saver, as a proportion of total HECM endorsements, has increased steadily since January (see chart) and now comprises more than 9% of total endorsements.

View the August FHA Housing Outlook.

Written by Elizabeth Ecker

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