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
