Monthly HECM Activity Nears 11,000 Mark

Monthly HECM Activity Nears 11,000 Mark,

Home Equity Conversion Mortgage (HECM) figures released by HUD show that 10,913 HECMs originated during February 2008 - making this the highest monthly production on record. The previous record month was March 2007 when 10,888 HECMs were recorded.

More important than the record, however, is the fact that February was the second consecutive strong month for HECMs reversing a four-month spell which saw monthly HECM activity fall below the moving 12-month average. February’s strong performance also brought the 12-moving average to a new record high of 9,249. On an annualized basis this represents out put of 110,988 HECMs for the twelve months ended February 2008.

For more HECM statistics and analysis, visit our HECM database tool.

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